Hairdressers garden salon
Claire01702
Registered Posts: 5
in Personal Tax
I have a hairdresser client who has set up a salon in her garden to trade from. Can I claim capital allowances on the garden office addition ? Or is it best not to so that we can avoid any tax implications when she sells her house as the garden office will still remain ?
Should I just claim the costs to furnish it as an allowable expense?
Also what use of home costs can be claimed. Again don’t really want to cause my tax implications when selling house?
Should I just claim the costs to furnish it as an allowable expense?
Also what use of home costs can be claimed. Again don’t really want to cause my tax implications when selling house?
0
Comments
-
Broadly, you will not be able to claim any capital allowances on the ‘garden office’ other than where the expenditure falls within s33A - this will be limited.
Even if the expenditure were incurred post-29 October 2018 you would not be able to claim SBAs (based on the revised draft statute) owing to s.270CF(2).
The furnishings will NOT be an allowable expense - they are capital. You may get PMAs on them.
The ‘use of hone as office’ costs which are incurred wholly and exclusively for the purpose of the trade may he claimed.1 -
Thank you for you advice Ryan0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 259 NEW! Qualifications 2022
- 146 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 37 AAT Level 3 Diploma in Accounting
- 64 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 274 VAT
- 92 Software
- 274 Tax
- 137 Bookkeeping
- 7.3K General accounting discussion
- 193 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 590 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership