Any opinions on this particular viewpoint?
If you feel that there are good grounds for claiming something as an annual running expence -rather than capital expenditure, then do so claim.
After all, the UK Revenue has a detailed guide on claiming new windows as a running expence so it would seem reasonable if one believed the same would apply here.
Look- it can be more advantageous to put something down as a capital expence.It depends on many factors, mainly your tax bracket.
Have you asked the tax office? And not just the poor pleb who answers the switch - tell them that you need confirmation in writing so an Inspector will have to deal with it, and then see what they say, that way you'll be beyond reproach...
I'm not sure what you mean by a "capital expense". Do you mean the annual 12.5% wear-and-tear?
A bank official pal told me stories of colleagues who would refuse mortgage applications (remember them?) sent in for final approval, simply because they were too hungover to bother reading them.
I have this (maybe unfair) suspicion that an inspector in Revenue might act in a similar fashion.
Actually I did mean a capital cost as in improving a property which is liable to CGT. I wrote it badly - sorry.
I meant that depending on one's income -and especially if CGT increases as many think it will - then it may be worth putting something down as an capital improvement rather than an expence.
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