Income Tax query

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    Income Tax query

    Hi there I hope someone here can give me some advice.

    I've been renting out my property for the past 7 years. In the last tax year I bought a laser printer for printing off invoices and a dehumidifier to help deal with a condensation problem. Are either of these items allowable against my revenue, as 'stationary' and 'maintenance' respectively?

    Also, now in the current tax year my tenant moved out and I moved in. Because of 7 years wear and tear, I've repainted and put in new carpets as they had become worn out. I believe this would class as maintenance if I rented it out again, but as I'm living in it now would I be able to claim these against last years income?

    Also what about any tools I've purchased for maintaining the property?


    Tools and furnishings (like the dehumidifier) are now allowable.
    Depending on how you account for them, you might be able to smuggle them in (ask an accountant).

    If the refurbishment occurred before you moved in, it might be allowable as a business expense (although HMRC might challenge it anyway).
    If you moved in and repainted, it's not a business expense.
    Carpets are furnishings, see above.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).


      Are you sure 'furnishings' are allowable? I thought this was only the case if you didn't take the 10% wear and tear allowance?


        Oops - very serious typo there.

        Now should be Not!
        Furnishings are NOT allowable.
        When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
        Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).


          I thought I had missed out on a huge change of government policy - I was almost kicking myself :-)


            Thanks for the answers so far. To clarify, the flat has always been unfurnished so I haven't claimed the 10% wear and tear allowance. I just had to replace the beige carpets because they were worn and no longer very beige! So would this now qualify?

            Also, I did do all the redecorating before I moved in, so it looks I could claim for some paint etc.


              Yes, that is fine, so long as this is your only property. If you have more than one property, you can't have a mix of claiming 10% wear and tear, plus claiming for replacement furnishings on another property. Basically, it's one or the other for all properties.


                Briefly :

                1. Printer - allowable as a Capital Allowance (restricted for any private use). Balancing charge/allowance on cessation.

                2. Dehumidifier - replacement probably allowable, if a trade tool.

                3. Carpets - they seem to be a difficult area. I think probably, HMRC think not.

                4.Refurbishment - not allowable as done after the business has ceased & you are living there.

                5. Maintenance tools - as 1. above.


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