Clampdown on tax for university digs
As efforts continue to maximise tax revenues, fixtures and fittings bought for university digs will not qualify for tax breaks.
Under the new amendments, costs of communal area equipment in flats- such as kitchens or lounges – would be ineligible for offseting against a company’s taxable profits, a break currently allowed under the capital allowances regime.
However the taxman stopped short of withdrawing the capital allowances for en-suite facilities of individual student rooms …