Can anyone give me guidance on the capital allowances available for leasehold improvements i.e. joinery, flooring, electrics as on a £30k turnover it seems inappropriate to treat this £5k exp on a refurb as P & l expenditure. For information the business is a fitness studio.
Jo
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not available for the tenant
there will no capital allowances available to the tenant for leasehold improvments, as they are an improvement to someone else's property.
However, it may be possible to classify some of the expenditure as plant and machinery.
I would advise you to go through the list of items with your accountant.
Thats exactly what i was wondering,
surely relief must be available otherwise why would they bother?
If a leasehold improvement isn't plant...
..how does the tenant get relief for the expenditure assuming it is 100% business?