Company Rental Income - Wear & Tear

Company Rental Income - Wear & Tear

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Can companies charge 10% wear and tear allowance for furnished rents in the same way as idividuals?
Tony Crundell

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By carnmores
23rd Jul 2007 14:59

commercial leases
does the 10% deduction also apply here

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By NeilW
19th Jul 2007 16:54

Yes
But only on property that is *fully* furnished. A property is only fully furnished if the individual can live in it as it is.

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By carnmores
19th Jul 2007 18:03

Agreed
i only found this out last year apparently i wasnt the only one to miss it

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