sir is domestic items relief available in case of FHA? If not then are the owners of such FHA allowed to deduct the expenses incurred on domestic items the first time they purchase it?
Ask the Tutor ACCA TX-UK
FHA
We do not use domestic items relief but would deduct on a cash paid basis if the cash basis is used or we would claim capital allowances if the accruals basis were to be used
But sir what you are saying doesn’t that apply to plant and machinery(or any asset in general) and equipment acquired to maintain the property, only?
Capital allowances would normally ONLY apply to plant and machinery used to MAINTAIN the property - NOT to the domestic items within that property
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