I'm working on a client who has bought a block of flats. He has had them for over a year. First 6 months were in renovation,refurbishment. Next 7-8 months he has been letting them.
My question is it right that all expenditure before the asset is put to use is capital expenditure. For example, boiller, central heating, doors, double glazed windows etc would be capital expenditure. What about painting, repairs that cannot be seen etc. Does this fall under revenue expenditure?