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Post Info TOPIC: PIM3215 - Furnished lettings: Wear & tear allowance: Claiming -2011/12 onwards
MichaelWGroves


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PIM3215 - Furnished lettings: Wear & tear allowance: Claiming -2011/12 onwards
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This link no longer advises you must stick with Wear & Tear or Replacement.

http://www.hmrc.gov.uk/manuals/pimmanual/PIM3215.htm

Am I correct in saying you could now chop and change yearly if you want, I'm more interested in the fact that I have an unfurnished property I am considering furnishing, so would probably only need to do once ?



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MarkS


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Wasnt the renewals basis withdrawn in April 2013?

So you now only get 10% W&T with furnished properties and nothing with unfurnished properties?

See the following link

http://www.taxation.co.uk/taxation/Articles/2014/05/27/325591/making-renewal

Which seems to suggest if is integral to the property eg boiler or fitted kitchen you could treat as a repair and get relief but if free standing "white goods" such as a cooker/fridge freezer etc then you should look at converting to a furnished property so you can at least claim the 10% W&T.



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
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