May

Are Council mandated improvements deductible from income or a capital expense?

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Following a change in regulations in January 2017, my Council have insisted that I upgrade a fire alarm in my HMO. It will cost £000’s, which is fine – especially if I can deduct it from income tax rather than capital gains! The alarm was formerly compliant and the expenditure is non-discretionary. “Spending to preclude… Read more

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