New Replacement Furniture Relief - Columb & Gosling Accountants

Property Lets – Repairs and Renewals

February 16, 2016
Posted in: Tax

From April 2016, the Wear and Tear Allowance for furnished properties is to be replaced by a new Replacement Furniture Relief for all landlords whichever type of property, furnished or unfurnished.  The rules allow for the deduction of costs actually incurred for the replacement of furnishings.  The type of items will be limited to those used by tenants.