Are inspection charges a capital or P & L expenditure charge

malcolm818malcolm818 Just JoinedRegistered Posts: 6
We currently get a firm on to check our moorings and have always treated this as a p & L expense - our accountant ( Who we think should be working for the inland revenue) has indicated that in future this expense should be capitalized. Is this correct as we use this information to allow us to replace the worn chain as part of an ongoing maintenance programme

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  • malcolm818malcolm818 Just Joined Registered Posts: 6
    Thanks - our problem is that different parts of the chain get replaced at different rates - can see this is going to be one hell of a spreadsheet!
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