Building own premises - nominal account for building materials?

Hi,

I am building my own premises from scratch and need to buy nails, screws, wooden beams, etc. How do I file these?

Thanks!

Please refer to the HMRC guide below:

We would recommend adding new nominal codes under Category ‘Assets & Liabilities’ Sub-Category’ Property for:

a. Materials Purchased.

b. Fixtures and Fittings.

See the example below:

You can then refer the transactions to your Accountant for further help.

1 Like

Hi Joe, many thanks this is indeed useful. Now more specifically, would I file screws which I used to build the premises with under Materials Purchased or under Fixtures and Fittings? I guess the former.
Then what about wooden beams, doors, wall panels?
Thanks a lot!