10% wear and tear or renewals

10% wear and tear or renewals

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I seem to remember a discussion sometime ago which unfortunately ended up in a slanging match.  However, the discussion was about whether the 10% W&T allowance had been abolished for residential properties.  Is it still possible to choose between replacement method and W&T allowance?

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By pembo
21st Oct 2013 12:44

No

HMRC withdrew the concession for 2013-14 onwards so the 10% claim is now mandatory. To quote: 

B47. Furnished lettings of dwelling houses - Wear and tear of furniture. Obsolete. The wear and tear allowance was legislated by The Enactment of Extra-Statutory Concessions Order 2011 with effect from 1 April 2011. The remainder of the concession was withdrawn with effect from 1 April 2013. 

Remember the slanging match you refer to that did not really add anything constructive to the debate.

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