Hoping someone can help.
I have buy to let properties and I am just doing my self assessment. I account using the accruals basis.
I have a property that needs a new kitchen but also ceiling repairs. I do have an inspection report from my letting agent, carried out in December 2018, stating the kitchen and the kitchen ceiling needed replacing and repairing.
I received a quote for the above before the year end 5 April, 2018. However it was only a quote for the kitchen replacement itself. The contractor had forgotten to quote for the ceiling repair.
I went back and asked the company to quote for ceiling repair. The company has taken a while to get back with the quote, and I have only received the amended quote that includes the ceiling repair now.
Therefore my question is, do I put the kitchen replacement quote figure only into 18/19 accounting period and the ceiling repair cost into 19/20 period, or should both costs go into 18/19?
Thanks in advance!