Capital allowances for rental income of a property business

Xxyzb12y ago

Good day sir I wanted to know if you could help me out with capital allowances related to furniture in a property business which qualifies as a" trade as furnished holiday letting" when dealing with rent of such a business for profit/loss calculation. So i want to request for help in dealing with capital allowances relating to furniture and the connection of "annual investment allowance" with such a capital allowance.Kindly please accept my request for help. Best regards Bilal Zafar

TTTax Tutor12y ago#1

Hi xyzb If an individual has rental income from a qualifying furnished holiday letting then instead of claiming the 10% wear and tear allowance in respect of the use of furniture and furnishings, a claim may instead be made for normal capital allowances to be claimed on such expenditure and then AIA would indeed be claimable.

Xxyzb12y ago#2

Thanks for the help