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Boilers and radiators

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Boilers and radiators

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by Tax Tutor.
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  • August 24, 2020 at 3:04 am #581691
    AverageAndy
    Member
    • Topics: 128
    • Replies: 34
    • ☆☆

    Sir I understand that boilers and radiators are excluded from replacement domestic items relief but then aren’t they used for the upkeep of the property and hence be fully deductible expenses for individuals as is the case with other P&M used for similar purpose?

    August 24, 2020 at 5:44 pm #581795
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Plant and machinery is not a fully deductible expense but P&M used in a property business may be eligible for capital allowances – otherwise capital expenditure will not be allowable as an expense against property income but will instead be treated as a capital cost to be deducted in deriving any chargeable gain that arises on the disposal of the property

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