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Where Taxpayers and Advisers Meet

House Renovations costs put through business

dsdsds
Posts:2
Joined:Thu May 05, 2022 11:26 am
House Renovations costs put through business

Postby dsdsds » Thu May 05, 2022 11:37 am

Hi everyone, I'm looking for some help regarding a house renovation for myself (and partner) and what costs I can legitimately put through my business.

I am planning on quite a substantial house renovation, and I am a self-employed designer / maker and already work on these kinds of projects for other clients. Part of the project is a new workshop / studio in the garden (£10-20k), which I am confident I can put through my business accounts. Am I able to legally gain any other benefit from my situation? I am not currently registered for VAT but I assume this may be beneficial even if just for the studio — and my existing clients are all VAT registered anyway.

Would appreciate any insights you may be able to give!

Thanks very much,
David

Jholm
Posts:354
Joined:Mon Mar 11, 2019 4:22 pm

Re: House Renovations costs put through business

Postby Jholm » Fri May 06, 2022 9:15 am

Do be mindful that claiming such portions of your home as 'entirely business use' eg. workshop, could scupper your chances at a full PPR claim if you sell it, since your may not be able to claim full relief on account of the business element.

bd6759
Posts:4256
Joined:Sat Feb 01, 2014 3:26 pm

Re: House Renovations costs put through business

Postby bd6759 » Sun May 08, 2022 3:34 pm

Also need to consider the capital nature of the expenditure before “putting it through your business”.

dsdsds
Posts:2
Joined:Thu May 05, 2022 11:26 am

Re: House Renovations costs put through business

Postby dsdsds » Sun May 08, 2022 9:51 pm

Thank you both, good advice.


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