Hi,
I have recently purchased a furnished holiday home and our first let managed to lose cutlery and break half the crockery. I have now replaced all these items but can these be put on the tax return as expenses and be tax deductible or not? The tax rules are confusing:
If you replace a domestic item in a property which qualifies as a Furnished Holiday Let, Replacement of Domestic Items relief isn’t available. You will continue to be able to claim capital allowances on these items.
If not, how should this type of thing be treated?
Many thanks.
I have recently purchased a furnished holiday home and our first let managed to lose cutlery and break half the crockery. I have now replaced all these items but can these be put on the tax return as expenses and be tax deductible or not? The tax rules are confusing:
If you replace a domestic item in a property which qualifies as a Furnished Holiday Let, Replacement of Domestic Items relief isn’t available. You will continue to be able to claim capital allowances on these items.
If not, how should this type of thing be treated?
Many thanks.
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