Capital v revenue - heating system
Just wondered what the latest thoughts are on whether the replacement of storage heaters with central heating is capital or revenue in a residential letting?
Is it possible to claim as revenue with the double glazing/modern replacement type of argument - has any one got away with this if queried by HMRC?
My thoughts are heading towards capital since you can still install new storage heaters, and it is choice to go for central heating, but thought I would ask the question in case anyone knows differently!
- Secure document exchange 90 3
- Question for FreeAgent users 145 4
- Any way of declaring a variable dividend? 372 7
- SDLT on Land Transfer to Connected Company and Averaging Relief 165 15
- break even point 125 5
- Charity recouping VAT via a separate company 103 3
- Fax to email providers 318 11
- Payroll software 203 11
- BrightPay 332 7
- Ghost messages from HMRC...... 113 1
- Amending supplier account code in Sage 50 131 4
- How to issue shares to investors 55 1
- Expense management software 620 12
- New Practice - Accounting Software 3,093 84
- Tax code 126 1
- Payroll Manager - seperate monthly & weekly 356 6
- I think I'm developing an anger issue 1,409 28
- Hello there 371 2
- Tax on sale of business when proceeds are deferred 125 2
- RTI late filing penalties for micro employer 143 1