fixtures and fittings on rental property

[OJ123]

Hi.

I have recently purchased a buy to let property which is almost ready to be fitted out. I was hoping to fit this apartment out to a high standard in the hope of recieving good rent and tenents. I was wondering what fixtures and fittings am i allowed capital allowance on. Eg. can i claim it on television, kitchen electrical equipment etc. or is it just allowed on the essentials like furniture, decoration etc.

Thanks

 

[delgirl]

You are allowed 12.5% per annum over 8 years on all furnishings and fittings in the property.

Decoration, if you are referring to painting etc., does not fall under capital allowances, however, the cost of decorating during or between tenancies (not before) may be deducted from the rental income provided you have an invoice from a painter/decorator. If you decide to do the work yourself, you can only deduct the cost of the materials for which you must also have a receipt.

Television - yes, kitchen electrical equipment - yes. If you are supplying a TV, include in the lease that the tenant is responsible for the TV licence.

See revenue's leaflet [broken link removed] - for more details on allowances.