Capital Allowances.

D

dosh

Guest
My husband is self employed and we have just extended our garage which is for business use which has been since 1980.What is the tax situation on this.
 
Capital allowances for plant and machinery only, which includes fixtures and fittings. There is no definition of plant. It depends on the function of the asset as opposed to the setting.

Egs
Allowable - Electrical insulations and fittings, heating and ventilation systems, all types of movable equipment eg chairs, computers, etc.

It really is on a case by case basis and your accountant should know.
 
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