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The Living City Initiative

The Living City Initiative (LCI) is a tax incentive scheme for Special Regeneration Areas (SRA)

Those who take advantage of it to claim tax relief for money they spend on refurbishing or converting residential or commercial properties.

There are three types of relief available under the LCI:

  • Owner-Occupier Residential Relief.
  • Rented Residential (landlord) Relief.
  • Commercial Relief.

In the Budget 2023 it was announced that the LCI will be extended for another 5 year period to the 31st of December 2027.

As well as the extension, the relief provided to owner occupiers is being accelerated meaning they will be able to claim the relief over seven years rather than the ten years that was previously available. The ability to allow carry forward of any excess relief by the owner occupier where it cannot be absorbed in a year up to a maximum of ten years.

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