redsturgeon wrote:We are planning to open up a new premises in the next few month but I am unsure of the tax treatment of the various expenditure. We will be spending about £50k refitting a shop premises. How is this treated for tax and accounting purposes by HMRC? Will we get any of the super deductions?
John
You first need to split the works into that which is an integral feature and that which is distinct piece of plant and machinery and that which is neither, there is a decent chance a lot will be neither. So a freedstanding heater or cash register is likely plant, the heating system installed within the building is likely an integral feature, the studboard partition is probably neither.
The enhanced 130%/50% does depend which of the two categories items fall within.
This is helpful re integral features:
https://www.rossmartin.co.uk/capital-al ... al-featureI will caveat that I did little re such allowances when in practice so you likely want an up to speed accountant to walk you through.