Richlist Posted August 18, 2013 Report Share Posted August 18, 2013 As we all know, since April 2013 we can't use the option of claiming the actual cost of replacing contents in furnished or unfurnished rental property. In furnished property we can still claim the 10% wear & tear allowance instead. Seems there are a couple 'loopholes' for those that want to go down the route of claiming the actual costs: 1. Rent the furniture and effects instead of buying them......the cost of the rental is then fully tax deductable. or 2. Allow your tenant to buy the items and deduct their cost from the rent. For example, the tenant buys a new washing machine for £300. They pay £300 less in the following months rent. They keep the goods when they leave. Link to comment Share on other sites More sharing options...
Melboy Posted August 18, 2013 Report Share Posted August 18, 2013 I don't provide washing machines but if faced with a deal breaker of having to supply one I know I can rent a washing machine for £3 a week from a major domestic appliance outlet with no repair bills etc. and this is a tax deductable expense. Link to comment Share on other sites More sharing options...
Richlist Posted August 18, 2013 Author Report Share Posted August 18, 2013 I don't provide washing machines but if faced with a deal breaker of having to supply one I know I can rent a washing machine for £3 a week from a major domestic appliance outlet with no repair bills etc. and this is a tax deductable expense. I can't ever imagine a scenario where I would supply a washing machine just because a tenant wanted one. Link to comment Share on other sites More sharing options...
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