Is it possible to do that?Why not claim it as an entirely deductible expense to set off against tax for the financial year?
I’m not an expert but it’s either an expense or a capital allowance. Either way you get relief - except with capital it’s over 8 years. To be on the safe side, claim as a capital allowance - it has the hallmark of a capital expense.Is it possible to do that?
Would it not be a capital allowance expense as its quite expensive?
If you are restoring the original window pane then the materials you bought to repair it are fully tax deductible but if it is new i.e. you fitted a new pane then it is a capital allowance.If replacing a broken door is considered as a capital allowance, then should replacing a broken window pane also be considered a capital allowance rather than a repair?
Fully agreeA new door is a capital item and you should claim capital allowances on the cost of the door over 8 years. You are not repairing the existing door back to its original state which would be allowed as a repair
A new extension would not be allowed for Capital Allowances either. This would add value to the house and you would get relief in your Capital Gains Tax computation when you sell the house
All my opinion of course
I'm doing up CGT at the moment and looking at my old files. My accountant told me that it doesn't matter if an item is expensive.Is it possible to do that?
Would it not be a capital allowance expense as its quite expensive?
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