Landlords advised to wait until April to replace furniture
With the scrapping of the 10% wear and tear allowance on 6th April 2016, landlords are being advised to wait until then to replace furniture in rental properties. From this date the costs incurred in replacing furniture, furnishings, appliances and kitchenware provided for the tenants’ user will be deductible. Initial costs are not allowed, only the replacement of such items. This changes should benefit landlords of part furnished or unfurnished properties who will be eligible to claim this new relief.
Full story available from LandlordTODAY: https://www.