Skip to main content

Taxation: Agriculture

Volume 460: debated on Wednesday 9 May 2007

To ask the Chancellor of the Exchequer if he will amend the definition of assets which qualify for agricultural buildings allowances to clarify what constitutes a fixture. (135751)

The Government announced a package of business tax reforms in the Budget. This included the withdrawal of agricultural buildings allowances and the introduction of a new category of fixtures integral to a building that will be included in the 10 per cent. capital allowances pool, effective from 2008. The Government will be consulting this summer on the definition of this new classification of integral fixtures.