BIM46970 - Specific deductions: repairs & renewals: maintenance of a technical library

The expenditure incurred by a professional person in maintaining a technical library for use in their profession may be allowed. The expenditure may include the cost of:

• new editions of, and supplements to, books already owned,
• replacements by new books of books rendered obsolete by extensive changes in the law, etc,
• technical periodicals,
• periodical parts of law reports, etc,
• binding of supplements, periodicals, etc.

The initial cost of establishing a technical library may qualify for capital allowances.