If a company pays valuation fee in order to acquire an additional property for the expansion of thier business but the aquisition eventually falls through, can the valuation fee be treated as allowable expense under corporation tax?
Dean
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Depends on the trade
If they are in the business of buying and selling property then yes, otherwise no.
Abortive costs that relate to capital items are not relievable against tax unless there is a capital allowance on the thing you were trying to purchase.