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Sam
Sam, Accountant
Category: Tax
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I am in a partnership and we are about to renovate a

Customer Question

I am in a partnership and we are about to renovate a building for our business. Are the costs tax deductible?
Submitted: 4 months ago.
Category: Tax
Expert:  Jawwaad Ahmed replied 4 months ago.

Are you going to renovate the office building or you will let that property after renovation?

Customer: replied 4 months ago.
Thanks for responding.It's an old barn. We have planning permission to renovate. It will consist of 50% studio (my wife's side of our partnership), 20% office for myself and 30% will be a guesthouse that MAY be used as an occasional B&B, but both my wife and I will use the kitchen and bathroom in the guesthouse on a daily basis. We have already instructed an architect and will shortly instruct a builder. That's the plan at the moment.
Expert:  Jawwaad Ahmed replied 4 months ago.

Okay, So studio will be for commercial purpose? and old barn was used for what purpose? and guest house will be for your personal use?

Customer: replied 4 months ago.
Studio will be used to make art. My wife sells the art through galleries, so it's where she works to earn an income.
The barn is part of an old (disused) farm that we now own. (Our home is a separate building in the same site). The barn probably stored grain or hay.
The guesthouse will be used by us almost daily for loo and kitchen. It will be occasionally be used by family and friends. It may be used as a b&b from which we could earn an income - but the decision to do this may not be made until the build is finished.
My office will be where I work to earn my income.
Expert:  Jawwaad Ahmed replied 4 months ago.

Okay, I can provide you information for this with reference please accept the offer so i can start working for you and let me know if you have any deadlines for this, thanks.

Customer: replied 4 months ago.
I'm not sure I understand. I have paid already and you haven't given me any answers, just questions. But now you want me to pay more to get an answer?Is the answer complex enough to justify the extra expense?I have no problem paying for a service if it is justified - it's just that you have offered no explanation why it is now more expensive. Can you clarify please? Thanks
Customer: replied 4 months ago.
Hi. I haven't heard from you since my last response two days ago. Is there a problem?