[Pj]

I had to take my old shed down because it went rotten...
... anyway to cut the story short, I didn't realise until I emptied it that about 80% of the content was stuff for work.

Question:  If I buy and erect a new one and use it mainly for work storage purposes is it a legitimate business expense?

Would that include cost of slab foundation too?

What do you think, anyone already done that?

[Kate2]

http://www.ukbusinessforums.co.uk/forums/

Lots of accountants on there PJ

[sherco]

I think if you want to claim for things like this as a business expense...it may look like you are running a business from home then you may be liable for business rates.

[Pj]

http://www.ukbusinessforums.co.uk/forums/

Lots of accountants on there PJ

Thanks Kate, I've spoken to accountant and got tax advice but they speak gobbledigook I'm afraid!  A bit like solicitors, they only give one answer specific to the question you ask so if you don't get the exact question you don't get the answer.
I thought some on here may have experience.

[Kate2]

There a good bunch over there, even if you dont ask specifics

[Smudger]

Yes - if your shed is 100 % business use

Darran

[Jista]

I think if you want to claim for things like this as a business expense...it may look like you are running a business from home then you may be liable for business rates.

I have done a similar thing what happens is you cant pay business rates on a domestic property.

I have 2 vans and i needed my drive in my property to be strong enough to carry the 2 plus the wifes car you can put it through the books but when you come to sell your property you will have to pay the tax man on the work that has been carried out.

[Smudger]

spot on jista - same as an extension - it  can be biz expense BUT if you sell your home then any
profit/capitol gain is then taxable.

you can run a biz from home it does not attract biz rates, however if it causes problems with the neighbours then
you may have issues.

Darran

[AuRavelling79]

I claimed for my shed and foundation slabs - it is a meaty old job and I got no change from £800 as I insulated it and plasterboarded it and put a double layer of felt on the roof from day one.

I originally had my computer and office stuff out there along with window cleaning spares so I counted as a business expense.

But unlike the above mentioned extension it's value would depreciate and so it has been written down over three years to zero - it's now about ten years old and still very functional.

[♠Winp®oClean♠]

I had to take my old shed down because it went rotten...
... anyway to cut the story short, I didn't realise until I emptied it that about 80% of the content was stuff for work.

Question:  If I buy and erect a new one and use it mainly for work storage purposes is it a legitimate business expense?

Would that include cost of slab foundation too?

What do you think, anyone already done that?

You should be able to claim it's business use value. In your case 80%.