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The End of Wear and Tear Allowances

Tuesday, 19th April, 2016

The wear and tear allowance for fully furnished properties will be replaced with a relief that enables all landlords of residential dwelling houses to deduct the costs they actually incur on replacing furnishings, appliances and kitchenware in the property. The relief will be available for expenditure incurred on or after 1st of April 2016 for corporation tax and on or after 6th of April 2016 for income tax.

This measure will give relief for the cost of replacing furnishings to a wider range of property businesses as currently there is no tax relief for the replacement of furnishings in partly furnished or unfurnished properties.

Examples of eligible capital expenditure are:
  • furniture
  • furnishings
  • appliances (including white goods)
  • kitchenware

but would exclude items which are fixtures.

However, the relief is limited to the cost of an equivalent item if there is an improvement on the old item. The deduction will not be available for furnished holiday lettings or where rent-a-room relief is claimed.


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