Goodbye to the Wear & Tear allowance

Replacing the Wear & Tear Allowance

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A client negotiates the purchase of  a buy to let property including carpets and curtains.  Client then decides the carpets and curtains are not up to scratch and replaces them.  My initial view is that this (replacement) expenditure is tax-deductible under the new rules (the original expenditure being part of the negotiated property price).  Am I right? 

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By Duggimon
13th Apr 2017 11:43

If the curtains and carpets weren't up to scratch when he bought the property then HMRC could argue against your treatment, saying that were they in better condition then a higher price would have been negotiated for the property and the replacement is in fact an improvement.

I would tend to agree with your proposed treatment though, it's perfectly reasonable, provided the carpet and curtains weren't completely dilapidated.

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