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Capitalise site holding costs on a refurb? IAS16

I'd like to capitalise Utilities, Business Rates, security etc on office refurb

Didn't find your answer?

My company has acquired offices that are to be refurbished and then leased out on short term leases.

Whilst the offices are being refurb'd we will incur Business rates, utilities and security costs.  Can I capitalise these under IAS16?

 

Many thanks

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By johnt27
04th Mar 2021 11:40

Have you read IAS 16? It's quite clear on what revenue costs can be capitalised and the criteria are very strict.

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By paul.benny
04th Mar 2021 12:13

If you register on the IFRS website, you can download all current standards without charge.

IASplus (Deloitte) is another good resource.

And if all else fails, there is probably a hefty group accounting manual.

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