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Post Info TOPIC: Capitalising of property costs.....
Woo


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Capitalising of property costs.....
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Good morning,

I have a client whom i complete bookkeeping for but wanted advice on completing partnership accounts for the freehold property that they have mortgaged which they currently work from for the main business.

The client was unsure if they should capitalise the associated costs with the initial purchase of the property or not. By costs i mean professional fees etc.

I am aware of FRS15 but as i am not a qualified accountant yet i did not want to give any instructions until i has sought sound advice.

Thank you.

 



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Peaman


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Yes, capitalise the legal fees.

Mortgage arrangement fees should be claimed in the P&L.


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Richard 
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