Hi everyone. First post and all that.
I've been trading as a Ltd Co. for a few years now and want to build an industrial unit on some of my own land to work from. Not big, maybe 90m2. £15-20k plus vat.
I've asked my accountant and he's going to get back to me but how is it treated from a tax point of view?
I assume I can't just write off the £20k against corp tax in the first year. Does it get depreciated as a normal asset? Thing is, it won't really depreciate, if anything it might appreciate. I assume i can claim back all the vat?
Cheers
I've been trading as a Ltd Co. for a few years now and want to build an industrial unit on some of my own land to work from. Not big, maybe 90m2. £15-20k plus vat.
I've asked my accountant and he's going to get back to me but how is it treated from a tax point of view?
I assume I can't just write off the £20k against corp tax in the first year. Does it get depreciated as a normal asset? Thing is, it won't really depreciate, if anything it might appreciate. I assume i can claim back all the vat?
Cheers
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