Stamp Duty - UK GAAP
mary@adorable.co.uk
Registered Posts: 5 New contributor 🐸
Can you capitalise stamp duty paid on a property lease under UK GAAP?
0
Comments
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Initial Measurement cost of tangible fixed asset
You did not state how long is lease for but
As per FRS 15, Paragraph 8 "The cost of tangible fixed asset (whether acquired or self-constructed) comprises its purchase price (after deducting any trade discount and rebates) and any costs directly attributable to bringing it into working condition for its intended use."
There are some examples within FRS 15 in Paragraph 15, which states, you can include stamp duty, import duties and non-refundable purchase taxes)
Nilesh0
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