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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13865
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Question regarding AIA. client has leased a building and

Customer Question

hi,
question regarding AIA.
client has leased a building and carried out extensive work on it(£100K) to turn it into a functioning childrens nursery.so a lot of the bills are just for the builder.
is this all allowable under AIA.
many thanks
Submitted: 1 year ago.
Category: Tax
Expert:  Sam replied 1 year ago.

Hi

Thanks for your question - I am Sam and I am one of the UK tax experts on Just Answer.

No this would be capital improvements deductible against any future gains

Thanks

Sam

Customer: replied 1 year ago.

there would be no gain as its a leased property

Expert:  Sam replied 1 year ago.

Hi

Thanks for your question

Then it may be all is lost - if the owner of the building is not prepared to offer the cost to cover the work then this cannot be claimed against the profits I am sorry to say as these are capital improvements

Thanks

Sam

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