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Where Taxpayers and Advisers Meet

Capital expenditure

kanrent
Posts: 57
Joined: Tue Dec 16, 2014 8:20 am

Capital expenditure

Postby kanrent » Sun May 05, 2019 11:42 am

Hi before I could re-rent my property to new tenants I had to have a kitchen fitted.
Is that capital expenditure?
If so how do I claim relief for that?
Do I need to claim it mention it anywhere on my tax return including the property pages?
Or do I keep the receipts and claim it off of my CGT when I sell the property

pawncob
Posts: 4374
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Capital expenditure

Postby pawncob » Mon May 06, 2019 9:49 pm

No, it's a replacement, so it's deductible as repairs and renewals against current income.
With a pinch of salt take what I say, but don't exceed your RDA

kanrent
Posts: 57
Joined: Tue Dec 16, 2014 8:20 am

Re: Capital expenditure

Postby kanrent » Tue May 07, 2019 5:32 am

There wasn't a fitted kitchen before just some shelves on the wall

pawncob
Posts: 4374
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Capital expenditure

Postby pawncob » Tue May 07, 2019 10:18 am

In which case it's capital!
With a pinch of salt take what I say, but don't exceed your RDA

kanrent
Posts: 57
Joined: Tue Dec 16, 2014 8:20 am

Re: Capital expenditure

Postby kanrent » Tue May 07, 2019 12:08 pm

Does that need to be mentioned on my annual tax return anywhere, or do I put in a claim seperatly when I decide to sell the property on the CGT pages I

pawncob
Posts: 4374
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Capital expenditure

Postby pawncob » Tue May 07, 2019 1:03 pm

It's an addition in the CGT computation.
With a pinch of salt take what I say, but don't exceed your RDA


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