I asked this question earlier in this forum but didnot received any conclusive response. So I am asking this question again in hope that someone can provide some guidance.
My clien has bought a new leasehold premises. Before buying the leasehold premises, the client conducted due deligence through third party professionals. They also charged the client £ 10K for acting on behalf of client in acquiring the leasehold premises.
These expenses currently sit in P&L. I am a bit confused, whether these should be capitalized with the cost of building as it specifically relates to acquiring the lease and carrying out due deligence, other surveys for this property.