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Where Taxpayers and Advisers Meet

Sole Trader Cash Basis - Leasehold Improvements

Posts: 1
Joined: Fri Nov 29, 2019 12:58 pm

Sole Trader Cash Basis - Leasehold Improvements

Postby SallyJ17 » Fri Nov 29, 2019 1:16 pm

Hi. I hope someone can help as I am confused! I run a dog agility training business and have prepared tax returns on a cash basis.
I lease a field for the purpose(6 year lease). At the end of last year I had a equestrian menage constructed on the field.
How do I treat this expenditure for tax purposes?

Posts: 4493
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Sole Trader Cash Basis - Leasehold Improvements

Postby pawncob » Wed Dec 04, 2019 12:30 pm

It's an asset, so treat it as Improvements to Leasehold Property.
No impact on tax position.
With a pinch of salt take what I say, but don't exceed your RDA

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