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Planning application tax deductible?

  • 20-08-2024 7:10pm
    #1
    SwordofLight
    Registered Users Posts: 343 ✭✭


    I'm wondering, for a commercial business, vat registered, would a planning application be allowable? Could I put it through under something? It will likely cost €5-10k. One offered me part cash excl. vat, but then i wouldn't be able to put it through.

    Any advice?



Comments

  • #2
    SureYWouldntYa
    Registered Users, Registered Users 2 Posts: 7,751 ✭✭✭SureYWouldntYa


    If the planning was rejected, then it may be allowed as a normal deductible cost but if the application is successful I would think it would form part of the capital cost of whatever is being built



  • #3
    SwordofLight
    Registered Users Posts: 343 ✭✭SwordofLight


    A private home currently but may go for planning if I decide to put in a commercial unit. So the cost would be included in the value of the fixed asset? Sorry I'm not great with all of this.



  • #4
    SureYWouldntYa
    Registered Users, Registered Users 2 Posts: 7,751 ✭✭✭SureYWouldntYa


    https://www.boards.ie/discussion/comment/122525935#Comment_122525935

    Yes it would be included as part of your costs of acquisition and increase your base costs down the line should you decide to sell

    Open to correction from anyone with more experience in the area



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