Chris Thomas
Joined: 11/12/2024
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Lift Replacement - Capital Expenditure?
Hi I have a rental property in a communal block. Freeholder (Dulwich Estates) has replaced the original lift system from 1954. This is at a cost of approx £8,000 per flat. The first instalment of payment was due in this tax year. I will be selling the flat in the new year. Am I right in seeing this as a Capital Expense and offsetting this against CGT? Best regards Chris