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Why can't I.....?

7 replies

KatyMac · 10/06/2005 20:37

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

OP posts:
Milliways · 10/06/2005 20:38

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

KatyMac · 10/06/2005 20:43

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

OP posts:
assumedname · 10/06/2005 20:44

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

KatyMac · 10/06/2005 20:47

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

OP posts:
KatyMac · 10/06/2005 21:11

or the walls or the roof

OP posts:
janinlondon · 13/06/2005 08:38

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

soapbox · 13/06/2005 10:09

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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