Hi all,
Sent my Form 12 tax return in a couple of weeks back and just got a letter back from them requesting additional info.
One of these is computation of the capital allowances?
Just wondering how should i supply this, is it copies of the receipts, or a breakdown of the total and if so do i itemise each amount.
This was my first year filing so apologies if this is something i should know, should i have sent this in with the form12?
what would be considered reasonable for a 3 bed house? 15 grand ok?
Also can stuff outside house be included - shed, decking, fencing, gates etc..?
Well i put tiles and kitchen under capital allowances as i spent all of this before the place was rented to get it ready for rent. i was advised that capital allowances was whatever i spent to set up the place for rent?
Am i now looking at having to move things from capital allowances to expenses? Bathroom fittings, kitchen appliances, flooring, tiles, furniture-not as replacement but as new to furnish the place....am i after messing it all up now?
What will happen if i have?
How would it have saved me money?
I'm pretty sure there was nothing i could have claimed for that i missed and i would have had to pay an accountant to do the forms for me which i was willing to take the time and worry of and do myself.
Looks like i may have mixed up what i can claim as CA and what should have been expenses but from previous post sounds like it's easily fixed.
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