Tax experts seek clarification from HMRC over changes to wear and tear allowance

The Association of Taxation Technicians (ATT) has made its formal submission to the UK Treasury in response to its proposals to change wear and tear tax relief for landlords. In its response, the association calls on additional, detailed guidance to be given by the HMRC to avoid future problems. As from this April, the new rules permit tax deductions for the cost of replacement furniture, but the ATT says that the current draft contains many items which could create confusion.

Full story available from LettingAgentTODAY: https://www.lettingagenttoday.co.uk/breaking-news/2016/2/hmrc-must-help-over-new-wear-and-tear-allowance-says-tax-body

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