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Post Info TOPIC: Deposit
Silly Digits


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Hi, I have a client who has rented a small shop, she has paid legal expenses for a lease and also paid 1 months deposit.

Are the legal expenses a capital expense?  And how do I treat the deposit in the accounts.

 

She is a sole trader not VAT registered,

 

 

 



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Artois


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Hi

I would treat the legal costs as Capital if it is for a new lease, I would treat the deposit as a current asset if it is getting returned within one year if not then a non-current asset.

HTH 



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice
Silly Digits


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Thanks Doug, very helpful.

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