Hi all,
I am sure I know the answer to this but for some reason am doubting myself! A limtied company purchase a residential property, paid £5k of stamp duty - this cost IS capitalised along with the value of the property as opposed to being via the P&L (in the period it was incurred) and therefore doesnt figure in the corporation tax calculation until the property is actually sold - am I correct? Thank you
Replies (3)
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Yes - together with all the other incidental costs of purchase (legal fees and disbursements, survey fees etc.)
The treasury is in a bad way and it is the duty of every citizen, whether natural or non-natural person, to chip in and give a little extra however they can, perhaps by paying some tax they haven't paid in a while or aren't sure quite what it's for.