leases, premises and fixed assets

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System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in General member discussion
i presume lease of premises is a business expense just like rent, but how do you treat fixed assets such as serveover cabinets? a butchers shop has been offered cabinets on lease terms over three years and you own it at the end, do i put down the lease payments as revenue or do i depreciate and claim capital allowances from the beginning of lease or just when it is officially owned??

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  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Re:leases, premises and fixed assets

    A similar thread was posted regarding vehicles.

    You capitalise them and claim capital allowances.

  • System
    System Posts: 100,534 🤖 Admin 🤖
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    Re:leases, premises and fixed assets

    thanks peugeot

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