A Client has sold some land, which a few yrs ago he was going to build on, and paid agency costs for this, now he has decided to just sell the land, are the cost of these agency fees allowable against the land disposal?
Mr T
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"Agency"-something special?
I am not 100% sure what "agency fees" mean in this context but, if it can be shown they were part of the land acquisition cost, they should be CGT-claimable even if the original intention behind the purchase has changed. Conceivably, though, this might be regarded as a Case 1 matter and then there would be no doubts-- deductable expenditure however one interprets the phrase.
"Agency"-something special?
I am not 100% sure what "agency fees" mean in this context but, if it can be shown they were part of the land acquisition cost, they should be CGT-claimable even if the original intention behind the purchase has changed. Conceivably, though, this might be regarded as a Case 1 matter and then there would be no doubts-- deductable expenditure however one interprets the phrase.