UK Tax Questions? Ask a UK Tax Advisor for answers ASAP
Thanks for your question - I am Sam and I am one of the Uk tax experts here on Just Answer.
You seem to indicate that you bought the property in your name rather than the limited company - can you clarify?
Can you also advsie what the £16K was spent on (so please be more specific what improvements were carried out)
Is this a residential or commercial property - is it used at all in the limited company ? Or is it rented out to generate rental income
Then these costs are only allowable once the property is sold to reduce the gain mad (which is then liable for corporation tax)