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Is the wear and tear allowance still available

Foster Care actual costs

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I know the wear and tear allowance is now replaced from April 2016 but is this also true for a foster care business that may use the acutal profit method rather than the simplified method. I know it is rare that the actual method has better results but I have one client that this may be the better option, they have kept all their receipts.

Is it still reasonable to claim 10% wear and tear allowance based on the foster income or do I require to adopt the replacement furniture relief.

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29th Jun 2017 11:07

I may be wrong but I think the abolition of the wear and tear allowance only related to landlords. There are other trades (childminders for example) where there is a long standing agreement that 10% of takings can be attributed to furniture replacement - when I last checked this was still available.

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