I am a residential landlord using Sage Instant Accounts.
Since April 2013 you can no longer claim say a fridge freezer under the renewals bases for unfurnished properties.
This is now capital expenditure, but as it is used in a dwelling house it does not qualify for as a capital allowance.
So my question is this, I want to show it in my accounts, but I cant allocate to maintenance (7nnn), I also can't allocate as capital expenditure, so where should I put it ?
I thought about leaving in maintenance as I would have done prior to April 2013 and simply deducting this figure for my self assessment, but I'm sure there is a better way?
Your profit from your accounts is almost always different to your profit for tax. You should be applying all expenses/capital consistently through the accounts then applying any adjustments when it comes to the tax return (Capital expenditure being one of them).
