I am interested to see how anyone would deal with the following. I have a client with a holiday let business who has had structural property improvements. While I appreciate the main cost is capital expenditure and no allowances are available the clients themselves have purchased a lot of the materials which have then been used on the building. I'm inclined to think that these would still amount to being capital expenditure and still exempt from any capital allowances but I wondered what anyone else thought.
Also, where capital expenditure has occurred and a record needs to be kept for any future sale and potential capital gains, where does everyone keep this record in the accounts ? as part of the fixed asset register perhaps?
I would appreciate your thoughts
Valerie
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