- This topic has 5 replies, 2 voices, and was last updated 2 years ago by
.
- Posts
Extract from E commerce
E-Commerce plc has claimed a deduction for repairs of £95,300 in respect of a warehouse which was purchased on 21 May 2021. The warehouse was purchased in a dilapidated state, and could not be let until the repairs were carried out. This fact was represented by a reduced purchase price. The property was first let out on 1 July 2021.Extract from Maison Ltd
On 1 July 2020, Maison Ltd purchased a freehold warehouse. The warehouse is currently surplus to requirements, so it was let out from 1 November 2020. However, the warehouse was purchased in a dilapidated state and could not be let until repair work was carried out during August 2020. This fact was represented by a reduced purchase price.
Initial repair 17680.In case above we are taking SBA for repairs. In below we are not. Can you tell what is difference.
I think that although both were delapidated, the fact that the second was let out and not used in the business and is therefore an investment propoerty is the difference.
Yes I know that both are let out. But one is an investment and the other used in a business – hence the difference
- You must be logged in to reply to this topic.