Capital Expenditure
wonderwife2008
Registered Posts: 41 Regular contributor ⭐
Hi I am working for a company that has recently refurbished one of it's restaurants and I am struggling to find clarity on the treatment for capital expenditure items re improvements to prop v general repairs and renewals v items allowable as plant & equipment.
They have taken the existing structure and not made any structural alterations to the restaurant save moving the bar area however the toilet block which is now part of the restaurant was initially an external windproof seating area which has now been incorporated into the building.
After reading (and rereading legislation) my thoughts are as follows:
a. building work on the toilet block including installation of a new roof system classified as inprovements to prop (no cap ex)
b. maintenance/refurb work in main restaurant building - general repairs and renewals
c. painting and decorating of new toilet classified as improvements to prop (no cap ex)
d. electrical work inc emergency lighting and fire alarm work - integral fixtures and fittings
e. all equipment including toilets etc plant & equipment
Any help or assistance gratefully received!
Cheers
Claire
They have taken the existing structure and not made any structural alterations to the restaurant save moving the bar area however the toilet block which is now part of the restaurant was initially an external windproof seating area which has now been incorporated into the building.
After reading (and rereading legislation) my thoughts are as follows:
a. building work on the toilet block including installation of a new roof system classified as inprovements to prop (no cap ex)
b. maintenance/refurb work in main restaurant building - general repairs and renewals
c. painting and decorating of new toilet classified as improvements to prop (no cap ex)
d. electrical work inc emergency lighting and fire alarm work - integral fixtures and fittings
e. all equipment including toilets etc plant & equipment
Any help or assistance gratefully received!
Cheers
Claire
0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 324 NEW! Qualifications 2022
- 160 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 94 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 273 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.2K General accounting discussion
- 201 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership