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Property Renovation Costs

khawarbuttkhawarbutt Registered Posts: 6
in AAT Level 4 (Level 8 in Scotland)
Hi all,
Can somebody help me out with the below question.
Can property renovation costs be capitalised?

Answers

  • CeeJaySixCeeJaySix Well-Known Registered Posts: 645
    There's no simple answer to that. Broadly if the renovation is an improvement to the property over the state in which it was purchased, yes, but not if its simply restoring the property to the condition in which it was purchased.

    I see a trawl through the HMRC website on the horizon for you...
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