I have just bought a house and intent to rent it. A fitted kitchen and fireplace were not included in the price but will have to be put in in order for me to rent it. Would they be considered part of the capital cost when I come to sell the property or would they be allowable at 12.5% p.a. wear and tear against rental income?
Also on a new house, what is an allowable valuation of Furniture and Fittings for write off over 8 years against rental income and generally whats included in this classification?
Thanks
Paul