Help! Treatment of planning application and other legal fees for property developer

Help! Treatment of planning application and...

Didn't find your answer?

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.

By johngroganjga
23rd Dec 2013 09:38

I would have thought into WIP until property in question is sold - only direct to P&L if abortive.

Thanks (1)
avatar
By The Innkeeper
23rd Dec 2013 12:13

I agree totally

with John

Thanks (1)