within furnished accommodation ( PIM3200). This is so even if the taxpayer makes the repairs just after they acquire the asset. Other examples of capital expenses include: In some cases, capital expenditure on a property (not the land itself) may qualify for ‘capital allowances’‘. expenditure which adds to or improves the land or property; for example, converting a disused barn to a holiday home. Homeowners … Repair expenses can be deducted immediately if the repairs consist of routine maintenance and satisfy four criteria. We accept that the ‘entirety’ will generally be the house or the block of flats that islet. New rules for computing the profits of a Schedule A business were introduced by FA95 for individuals and by FA98 for companies. This is a capital expenditure. In that case, the landlord should only get a deduction for the net value he bears. The entire fee is capital expenditure, including the cost of making right any damage to decorations. He is the sole author of all the materials on AccountingCoach.com. Accounting BestsellersAccountants' GuidebookAccounting Controls Guidebook Accounting for Casinos & Gaming Accounting for InventoryAccounting for ManagersAccounting Information Systems Accounting Procedures Guidebook Agricultural Accounting Bookkeeping GuidebookBudgetingCFO GuidebookClosing the Books Construction AccountingCost Accounting FundamentalsCost Accounting TextbookCredit & Collection GuidebookFixed Asset AccountingFraud ExaminationGAAP GuidebookGovernmental Accounting Health Care Accounting Hospitality Accounting IFRS GuidebookLean Accounting Guidebook New Controller GuidebookNonprofit Accounting Oil & Gas Accounting Payables ManagementPayroll ManagementPublic Company Accounting Real Estate Accounting, Finance BestsellersBusiness Ratios GuidebookCorporate Cash ManagementCorporate FinanceCost ManagementEnterprise Risk ManagementFinancial AnalysisInterpretation of FinancialsInvestor Relations GuidebookMBA GuidebookMergers & AcquisitionsTreasurer's Guidebook, Operations BestsellersConstraint ManagementHuman Resources GuidebookInventory Management New Manager Guidebook Project ManagementPurchasing Guidebook. For periods up to April 2001, ESC/B4 gave a measure of revenue relief where capital improvement expenditure saved the need for repairs expenditure. We accept the expenditure is allowable revenue expenditure. This element is a capital addition and not allowable (applying whatever apportionment basis is reasonable on the facts). In the past, we have the view that replacing single-glazed windows with double-glazed windows is improvement therefore, capital expenditure. There are no capital allowances for the value or depreciation of residential property; but a ‘wear and tear’ compensation may be expected for the plant and machinery (furniture, furnishings, etc.) repairs and maintenance expense definition. The cost of land and any buildings on it is capital expenditure. For more detailed guidance on property repair & maintenance expenses, see BIM35450, BIM35460, BIM35465, and BIM46900 onwards.