Rental property

[missright]

Hi All

I have a property that I rent out furnished. I claim the annual 10% wear and tear allowance in my tax return.

I recently had to replace the boiler in the property as the old one kept breaking down and I wondered whether the cost of this could be claimed as a deduction in my tax return or whether it is covered by the wear and tear allowance.

Any help would be much appreciated!

Thanks

 

[David Griffiths]

I think that it's claimable, to some extent at least.

The wear and tear scheme is explained here, including the assets that it's meant to cover. That's basically furniture and equipment that tenants would normally provide for themselves - kitchen appliances given as an example.

A boiler is clearly not in that category, and a like for like replacement should be claimable in full. If you replace with a better boiler, you might only be able to claim part of the cost - there's an example given