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  • Tax

    Employee

    We propose employing a retired guy for 2 day per week who will be doing maintainance decorating, etc, all a revenue charge.however he will also be working on our new property on work that should be capital.do we have to divide his work between the two or can he just be a general cost to our property company? He will be paid monthly what should we expect to pay an account to handle NI tax etc

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    Its been my experience that, capital cost is offset against captail gains, whilst revenue costs are offset against revenue.

    My contractors and I have not itemised instead a view was taken by archiitect and contractors to split the expenditure in favour of capital 60% repairs 40%.  HMRC are investigating as the returns were amended to this from 100% capital.  Investigation has been approx 3 years to date.

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