Ostroff, Fair and Company
*Ostroff, Fair and Company>>>United Kingdom Taxes

Income tax deductables, UK?


I have a b and b and pay tax. How do I reduce it? Are decorative improvements tax deductable eg painting, carpets, lighting or is it just repairs?

No need for accountant to validate books unless you have a limited company.

Any expenses that 'wholly relate' to the business are deductible.

Any repairs to items within the B&B are deductible.

Improvements to items are generally deemed to be capital as they enhance the existing assets, but any genuine repairs that simply maintain the standard are acceptable.
You should have an accountant to advise you. Isn't it a requirement to have an accountant anyway to validate your books?
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