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Sam
Sam, Accountant
Category: UK Tax
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HI SAM. I RUN A LTD CO FROM HOME AND HAVE CONVERTED ONE OF

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HI SAM. I RUN A LTD CO FROM HOME AND HAVE CONVERTED ONE OF THE ROOMS. COSTS INCLUDE £600 DESIGN FEES, £4,200 FURNITURE & £1K FOR NEW FLOORING FIT & SUPPLY. CAN I CLAIM CAPITAL ALLOWANCES ON THESE ITEMS?

Hi

 

You can claim the furniture as capital allowances as this is a direct business expense on office equipment.

 

But the design costs will be considered from the capital gain position, as and when you sell the property as will the new flooring (as these are capital expenditure, but regarding the change to the property itself)

 

Thanks

 

Sam

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