Cookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.
As from 5 April 2013, the rules on claiming the replacement cost of items such as washing machines, cookers, sofas etc of partly furnished properties have changed and HMRC no longer allow this.
You now have 5 options with regard to your property:
- Do not supply any furnishings/white goods
- Do not claim replacement costs
- Completely furnish the property and claim Wear and Tear Allowances
- Lease furnishings and white goods separately to your tenant (difficult if a managed property)
- Lease/rent your furnishings/white goods from a company you can then offset this cost.
For more information about the taxation of Buy To Let properties, see our Helpsheets
