Client purchased a property in 2017/18, bought all the necessary furnishings and started letting it out as a Furnished Holiday Let. As the default basis for property lets is now the cash basis, we cannot claim capital allowances for the furnishings. Can we still get relief for the costs of the furnishings and if so, what Tax Return box would you claim these in?
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Eh? Why cant you claim CA's under the cash basis?
Moreover if you don't think you can, why use it in the first place?