Cats and dogs
I have been asked to deal with the tax affairs of a client who is the sole trader proprietor of a kennels and cattery. The purchase price of £245,000 was split £130,000 as to the house and land and £115,000 in respect of the kennel and cattery accommodation.
Unfortunately, I have been unable to obtain a copy of the accounts prepared for the previous owner. Can readers advise what capital allowances they consider can be claimed and the relevant percentage for 2001-02, 2002-03 and 2003-04?
Cats and dogs
I have been asked to deal with the tax affairs of a client who is the sole trader proprietor of a kennels and cattery. The purchase price of £245,000 was split £130,000 as to the house and land and £115,000 in respect of the kennel and cattery accommodation.
Unfortunately, I have been unable to obtain a copy of the accounts prepared for the previous owner. Can readers advise what capital allowances they consider can be claimed and the relevant percentage for 2001-02, 2002-03 and 2003-04?
The business itself was acquired on 1 April 2001.
Query T16,537)
