The ever present, ever contentious issue of capital expenditure versus revenue expenditure has made another appearance in a recent tax tribunal. The case of Hopegear Properties Ltd v HMRC follows on from the Cairnsmill Caravan Park Case in that we see another victory for the tax payer surrounding the issue of allowable repair expenditure. HMRC … Continue reading The Battle Rages On…
Tag: Revenue Expenditure
HMRC has brought yet another claim for repairs as revenue expenditure before the First Tier Tax Tribunal. The claimant, a limited company, traded from premises on an industrial estate. It claimed as a deduction in its profit and loss account expenses for: the diversion of telecommunications cables relaying and resurfacing a carriageway repairs to the … Continue reading Repairs – Capital or revenue expenditure?
