§ Mr. Clifton-BrownTo ask the Secretary of State for Transport, Local Government and the Regions if he will make a statement on the impact of the Government's Flats over the Shop initiative. [13752]
§ Ms KeebleThe scheme for 100 per cent. capital allowances for flats over shops was introduced in the Budget. Spending on the renovation or conversion of vacant or under-used space above shops or other qualifying commercial premises, to provide flats for rent, can qualify under the scheme from 11 May 2001.
Information about the amount of spending qualifying under the measure will not be available until 2003, when property owners and occupiers who have incurred expenditure have sent in their tax returns for the first tax year in which the scheme has been in operation.
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