Capital allowances on a buy to let? Surely not!
Prompted by a question on Any Answers, Rebecca Benneyworth presents a summary of what some are claiming is a 'new' availability of allowances in relation to let property.
Section 35 of the Capital Allowances Act 2001 forbids capital allowance claims in respect of plant and machinery in a "dwelling house". This is the rule that is disapplied in relation to furnished holiday lettings, permitting potentially significant capital allowance claims.
Continued...
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Thanks Rebecca
Funny my client's first words when sending me the magazine article were "I think this sounds too good to be true"