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- Oct 10, 2016
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In 2016-2017 i purchased 2 properties through my Limited company, both cash so no mortgage repayments etc. I submitted my end of year accounts to my accountant, when i submitted them i stipulated that i wanted all the work done on the properties to be looked at as a repair expense rather than a capital expense wherever possible. He has now submitted my end of year accountants back to me for me to sign off, he has taken all of the work and purchase costs of the properties and added them onto the purchase cost of the properties, ie he has treated all as capital expense, i sent an e mail to him with questions and have had no reply, in his original letter he stated if any issues then make an appointment. I am gathering data to take with me when i get an appointment with him, i want to show him that he is not correct, in fact i think he has just been lazy and put everything as one capital expense.
I changed a bathroom and a kitchen, both same as what was there before as in amount of cupboards etc, i also upgrade consumer unit as was last tested 25 yrs ago and was old unit, only spent around £3500 so not bad as done most of the work myself apart from electrics. HMRC states changing kitchens and bathrooms is an allowable maintenance expense (see attached), is this generally deemed ok ?
When i bought my first property the year before, he told me i could offset the legal costs of purchasing the property on my second, 3rd etc purchased, not the first though, now he has not taken any of it into account.
Also, as part of new kitchen i put a new cooker, HMRC state this is acceptable and allowed to get 'domestic items relief'.
Do you think i am being fair or making too much of it ?, i have just asked him to look at reducing my tax bill as best as possible, i can't believe that nothing can be deducted and has to be capital expense
I changed a bathroom and a kitchen, both same as what was there before as in amount of cupboards etc, i also upgrade consumer unit as was last tested 25 yrs ago and was old unit, only spent around £3500 so not bad as done most of the work myself apart from electrics. HMRC states changing kitchens and bathrooms is an allowable maintenance expense (see attached), is this generally deemed ok ?
When i bought my first property the year before, he told me i could offset the legal costs of purchasing the property on my second, 3rd etc purchased, not the first though, now he has not taken any of it into account.
Also, as part of new kitchen i put a new cooker, HMRC state this is acceptable and allowed to get 'domestic items relief'.
Do you think i am being fair or making too much of it ?, i have just asked him to look at reducing my tax bill as best as possible, i can't believe that nothing can be deducted and has to be capital expense
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