My client has spent £1600 for a new combi boiler and £600 on somebody installing it in his unfurnished rental property.(It was to replace one) . I am correct in thinking that he can not claim this as an expense?
The boiler is part of the heating system so its replacement could in some circumstances be considered a repair to the heating system.
Would you say that the cost of the boiler is more than 50% of the cost of the whole heating system? If not then you should be good to treat as a repair... Now where did I read that... Here you go, it was in one of the ATT's handy booklets. (actually, worth a read in its entirety by everyone here as we all get landlords and this is a really handy guide).
Edited because the link was broken. Also note that although this is from the ATT site its actualluy a Chartered Institute of Taxation document.
-- Edited by Shamus on Monday 7th of September 2015 08:57:39 PM
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I would " guess " that it was less than 50% of the whole heating system. But is it an integral feature as defined by BIM46945? Sorry not very techy about combi boilers !
Sorry for the delay, it was Suits night and needed my weekly fix of Pearson, Spectre, Litt.
I get daily emails of the latest articles and discussions from places like Accountancy Age. Accounting Today, Finance Director, Accountingweb and also the ACCA members area on Linkedin. Whilst I don't get chance to follow up anywhere near as many links as I would like to, quite reqularly stories grab my attention and I end up in places where I read articles that would otherwise have eluded me.
The worst part is where you remember that you have read something but cannot for the life of you remember the source. Luckily this one was quite recent so it was still stuck in the old grey matter.
Glad that you've found it useful,
kindest regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I've printed it off and read what I needed to know. It answered every question I had very clearly. Why can't the HMRC website be written like this?
Can you recommend a good manual/book where it covers taxation ? I have Taxation by Alan Melville but it didn't answer my questions like the CIOT link you sent me and doesn't go into enough depth
