We have mentioned claiming cost of replacing domestic goods previously here however this is changing from April 2016. The former wear and tear allowance is now replaced with relief for replacement of domestic goods, the new allowance however isn’t as generous as the 10% wear and tear allowance where landlords could claim 10% of the net rent received as expenses even if the expenditure was not incurred, though the downside to the wear and tear allowance was when the actual cost of replacing items was more than the 10% allowance full relief was not obtained.
Replacement of domestic items relief is available from April 2016 and it’s available on meeting the conditions below:
0 Comments
Your comment will be posted after it is approved.
Leave a Reply. |
Categories
All
Recent Posts
|