Hi,
I have a question about the ‘wear and tear allowance’ or ‘depreciation’. This may be a stupid question so apologises in advance.
We claimed for this in 2021 based upon the furniture and fittings we purchased before the letting the house.
My understanding is that we write-off 12.5% of this cost over 8 years.
However in 2022 we purchased new mattresses, an oven and a shower. Do I just add those to the total amount from 2021 and put in a new figure for the'rental capital allowances'?
Many thanks,
A
I have a question about the ‘wear and tear allowance’ or ‘depreciation’. This may be a stupid question so apologises in advance.
We claimed for this in 2021 based upon the furniture and fittings we purchased before the letting the house.
My understanding is that we write-off 12.5% of this cost over 8 years.
However in 2022 we purchased new mattresses, an oven and a shower. Do I just add those to the total amount from 2021 and put in a new figure for the'rental capital allowances'?
Many thanks,
A