Capital of revenue expenditure

TrishTrish Settling In NicelyRegistered Posts: 20
Many thanks to all members who have replied to my thread.

The cost of the new flat roof was just in excess of £1000. It did have an element of improval over the old one in that they used fibreglass instead of felt and bitumen.

The client was insistent that it was cap.ex. but my gut instinct was that it was revenue expenditure. After reading through your replies I am inclined to go with my gut instinct.

Thanks again for your help.

Regards Trish

Comments

  • deanshepherddeanshepherd Font Of All Knowledge Registered Posts: 1,809
    If your client wants to capitalise it then I would be inclined to do so. No-one is going to bat an eyelid over £1,000. HMRC would usually want to argue for capital treatment rather than revenue.
  • DeanDean Experienced Mentor DevonRegistered Posts: 646
    £1,000? Well you should have said! :laugh:

    Ah well, I clocked up a good CPD cycle!

    Regards

    Dean
  • PoodlePoodle Experienced Mentor Registered Posts: 711
    Dean wrote: »

    Ah well, I clocked up a good CPD cycle!

    Dean S you have competition for your CPD crown
    :laugh:
  • DeanDean Experienced Mentor DevonRegistered Posts: 646
    Poodle wrote: »
    Dean S you have competition for your CPD crown
    :laugh:


    In the words of tv burp..

    ....."FIGHT".....

    :thumbup1:
Sign In or Register to comment.