Advanced search

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.

Join the discussion

Registering is free, easy, and means you can join in the discussion, watch threads, get discounts, win prizes and lots more.

Register now »

Already registered? Log in with: