The introduction of 21 new enterprise zones should make it easier for smaller businesses to find suitable premises.
The first ten enterprise zones are mostly located in the Northwest, North East and Midlands but further zones are to be announced in other parts of country, including one in London. Here’s the full list of enterprise zone locations so far.
Enterprise zone allowances may also benefit individual landlords and collective investors, enabling development of new commercial buildings in the designated zones.
Enterprise zone allowances are available for the cost of construction of new buildings but not the purchase of the underlying land.
With capital allowances for plant and machinery significantly reduced, this allowance takes on even more importance.
George Bull is head of tax at Baker Tilly.