I'm sure this should be a fairly straightforward question, but having spent a couple of hours trawling through articles I don't feel 100% confident that I have the correct answer........
Please could someone confirm how I should treat planning application and other legal fees in the accounts of a property developer. As property development is my client's trade can I treat as revenue and take straight to the P&L as direct professional costs?
Thank you.
Replies (2)
Please login or register to join the discussion.
I would have thought into WIP until property in question is sold - only direct to P&L if abortive.