Sole Trader Business


NLD

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I have a client who has a Yoga teaching business. The property is used for this business owned by her and her husband. I know that she could not have a rental cost in the P&L, as that would be tax avoidance.

Client bought the property and spend lots of money to turn the building into yoga business. Can she put any of the repairs in her sole trader accounts?

I know that she cant include the building in the sole trader accounts, as the property is under husband and wife. is that means that all the capital expenditure goes towards to the cost of the property which could reduce the gain when the property is disposed.

I would be grateful if someone could inform me.

Many thanks..
 

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