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monica25th


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capital allowance
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anyone can help at all?

Under what cricumstances can capital allowance (including AIA) be claimed against the income from residential lettings?
thanks Monica



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Merlion ABS


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You can usually claim capital allowances for furnished UK Holiday lettings on the cost of furniture and fittings within the property you let.

You would normally claim a 10% wear and tear allowance on residential property lettings, however you can claim capital allowances on equipment used to run your letting business and maintain the properties.

equip such as garden tools, a vehicle perhaps and even ladders.

I would however get further advice on this as its been a while since I did this so would need to investigate further.



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Wella


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Pretty much echoes what I said in the other post

http://www.book-keepers.org.uk/forum.spark?aBID=106474&p=3&topicID=39401719

Bill



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