I’m struggling with how to catergorise an item. I’m currently doing some renovation/improvements on my property and know its not repairs/renewals as I’m adding new reather than repairing what’s already there.
Any suggestions are appreciated.
Hi @chrisbuxton
The general consensus from several resources suggests it could affect your tax position, so an accountant (I’m not one) would be better placed to point you in the right direction.
You may wish to create a new nominal code for the time being (e.g. “Property Improvements”) and raise this with them at year end.
Of course, this is a public forum, so someone may be able to advise you better than what I can.