From April 2016 Landlords need to be aware of the new letting deduction which is being introduced.
This will apply to most landlords not just landlords letting out fully furnished property, so will apply to any let property which isn’t Furnished Holiday Lets. There will be a deduction allowable for replacements of FURNISHINGS, APPLIANCES and KITCHENWARE.
This will help landlords with partly furnished let property and is similar to the old renewals basis which was abolished April 2013
It must be noted however that the popular WEAR and TEAR allowance currently claimed by many landlords on their fully furnished let properties is being abolished as at April 2016
If you would like any advice or assistance in this area please call the office.
