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From: Fedora Tarsitano
We have just inspected a property which was a hall and where the owners had attempted to turn into a residence. It has been abandoned at the stage where we have holes in the ceilings,demolished kitchen, tiles removed etc.etc.At the moment it is a shell.
If we were to buy it, we would need to bring the premises back to it's original use. Put a new kitchen where the old one was ripped out, floor coverings, tiling,plaster repair work, new ceilings etc.
Tax wise - what category would this work fit into...capital expenditure or repair? My husband would lease it to me for my business.
I should have listened to my Mum and become an accountant!
cheers.
We have just inspected a property which was a hall and where the owners had attempted to turn into a residence. It has been abandoned at the stage where we have holes in the ceilings,demolished kitchen, tiles removed etc.etc.At the moment it is a shell.
If we were to buy it, we would need to bring the premises back to it's original use. Put a new kitchen where the old one was ripped out, floor coverings, tiling,plaster repair work, new ceilings etc.
Tax wise - what category would this work fit into...capital expenditure or repair? My husband would lease it to me for my business.
I should have listened to my Mum and become an accountant!
cheers.
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