Tax relief on general purpose shed

[Steevo]

It’s not repair work.......tricky one, but I like it and will try it!

Contractors

 

[daijd]

What kind of tax? I’m sure I’ve been told you can claim relief with building purchase against capital gains tax.

 

[Larel]

I discussed this with my accountant a couple of years ago. In the end, I decided to go a different route. Anyway the accountant said he had previously claimed a portal frame shed and concrete panels as a moveable asset. The bolts were left uncovered at the base of each leg and were photographed for evidence for the record. Rest of floor was concreted but from memory the concrete was not tax deductible. In theory the complete shed could be dismantled and reassembled somewhere else if required.

 

[Nearly]

What kind of tax? I’m sure I’ve been told you can claim relief with building purchase against capital gains tax.

Be interested to see evidence.
Very.

 

[rob1]

I discussed this with my accountant a couple of years ago. In the end, I decided to go a different route. Anyway the accountant said he had previously claimed a portal frame shed and concrete panels as a moveable asset. The bolts were left uncovered at the base of each leg and were photographed for evidence for the record. Rest of floor was concreted but from memory the concrete was not tax deductible. In theory the complete shed could be dismantled and reassembled somewhere else if required.

claiming it and getting it past an inspection could be two different things

 

[Larel]

claiming it and getting it past an inspection could be two different things

Oh aye, I agree, and to be fair, he didn't imply that the set of accounts in question had been subject to an inspection, so his view on the regs had not been put to the ultimate test.