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Post Info TOPIC: Income from client's own property: allowable expense?
AICB


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Income from client's own property: allowable expense?
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Hello all, hot question:

Self-employed, sole trader Client owns a flat; he lets it out to week & weekend visitors. He read up about fire safety and decided to buy a roll-up fire escape ladder for the inventory. It's a portable bag, so it's not really a fixture or fitting.

Can the cost of this be offset against his rental income, or would it be deemed "an improvement" to the property? I think the latter but I might be being too po-faced about it.

 

Thanks, Andy



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Andrew
BudgetB


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It's not fixed so I wouldn't call it an improvement, it's a health and safety measure, I'd expense it.

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Jenny

 

Responses are my opinion based on the information provided.  All information should be thoroughly checked before being relied on.

 
AICB


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That seems a reasonable tack to take; thank you Jenney.

Andrew



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Andrew
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