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HMRC Let Property Campaign and Wear and Tear Allowance

HMRC Let Property Campaign and Wear and Tear...

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Hi

Anyone done a Let Property Campaign disclosure?

Did you claim wear and tear allowance?

Normally an election has to made "on or before the first anniversary of the normal self-assessment filing date for that year."

So I asked the guy if the basis for preparing this was a) Put yourself at the correct time for the calculation and do it or b) Income minus allowable expenses.

The notes talk about carry forward of rental losses so that appears to put us in "a". But I suppose that doesn't involve an election.

Any ideas?

Regards

Rob

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By roblpm
08th Apr 2016 12:00

Nobody knows................

168 views and no comments!!

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By ireallyshouldknowthisbut
08th Apr 2016 12:19

.

I've always claimed it on back taxes claims.

Then again, I didn't know enough to know there was a time limit in the first place.  

Ignorance being bliss and all of that.

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Replying to ireallyshouldknowthisbut:
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By roblpm
19th May 2016 13:24

ireallyshouldknowthisbut wrote:

I've always claimed it on back taxes claims.

Then again, I didn't know enough to know there was a time limit in the first place.  

Ignorance being bliss and all of that.

Well I called HMRC and they obviously didnt know either! I think I will prepare it based on how we would have prepared it at the time.

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By Wanderer
08th Apr 2016 12:47

LPC - Yes & Yes

is my answer to your two questions.

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