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Why can't I.....?

(8 Posts)
KatyMac Fri 10-Jun-05 20:37:51

put the costs of my extension through as an expense on my Self Assessment?

Milliways Fri 10-Jun-05 20:38:47

because you personally benefit from the increased value of your house?

KatyMac Fri 10-Jun-05 20:43:02

I suppose tho' an estate agent has said that it will reduce the value of the house - cos who wants a 2 bedroom house with a 42 ft conservatory

It's only used for childminding....and occasionally as a practice roo for dh's dancing

assumedname Fri 10-Jun-05 20:44:30

Why can't you at least put some of it through? Can you consult an accountant?

KatyMac Fri 10-Jun-05 20:47:16

Apparently I can put the furniture through and the blinds - but not the floor tiles or the underfloor heating

KatyMac Fri 10-Jun-05 21:11:09

or the walls or the roof

janinlondon Mon 13-Jun-05 08:38:33

Doesn't this mean the house will come under CGT ruling when sold?

soapbox Mon 13-Jun-05 10:09:29

Because under taxation rules it is a capital item and not a revenue item.

Only revenue items can be put through as an expense.

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