{"id":916,"date":"2016-11-03T22:06:49","date_gmt":"2016-11-03T22:06:49","guid":{"rendered":"https:\/\/renovateme.co.uk\/blog\/?p=916"},"modified":"2018-09-07T19:25:20","modified_gmt":"2018-09-07T19:25:20","slug":"abolishment-wear-tear-allowance-new-replacement-furniture-relief","status":"publish","type":"post","link":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/","title":{"rendered":"Abolishment of wear and tear allowance and new replacement furniture relief"},"content":{"rendered":"

From 6 April 2016 the wear and tear allowance for the rental of furnished properties is no longer available and has been replaced with a deduction for the replacement of furnishings.<\/span><\/span>\u00a0<\/span><\/span><\/p>\n

The new deduction will be available for capital expenditure on furniture, furnishings, appliances and kitchenware where the expenditure involves the replacement of an item used in the rental property.\u00a0 The amount that will be allowed as a deduction against rental income will be the cost of the replacement item, although this is limited to an equivalent replacement if the new item is an improvement on the original, plus any incidental costs of disposing of the old item or acquiring the replacement.\u00a0 Any amount received on the disposal of the old item will be deducted and so reduce the allowable deduction for tax purposes.<\/span><\/span>\u00a0<\/span><\/span><\/p>\n

This new deduction does not apply to furnished holiday lets, which instead would claim capital allowances.\u00a0\u00a0<\/span><\/span>\u00a0<\/span><\/span><\/p>\n

If you need assistance with any related matters, please do e-mail Simon at <\/span>simon.johnson@kpmg.co.uk<\/span><\/u><\/a>.\u00a0 <\/span><\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

From 6 April 2016 the wear and tear allowance for the rental of furnished properties is no longer available and has been replaced with a…<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[172],"tags":[73],"yoast_head":"\nAbolishment of wear and tear allowance and new replacement furniture relief -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abolishment of wear and tear allowance and new replacement furniture relief -\" \/>\n<meta property=\"og:description\" content=\"From 6 April 2016 the wear and tear allowance for the rental of furnished properties is no longer available and has been replaced with a…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Renovate-Me-Limited-1532414700378807\/\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-03T22:06:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-09-07T19:25:20+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Simon Johnson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/renovateme.co.uk\/blog\/#organization\",\"name\":\"Renovate Me\",\"url\":\"https:\/\/renovateme.co.uk\/blog\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/Renovate-Me-Limited-1532414700378807\/\",\"https:\/\/uk.pinterest.com\/RenovateMecouk\/pins\/\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/renovateme.co.uk\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/renovateme.co.uk\/blog\/wp-content\/uploads\/small-logo.jpg\",\"contentUrl\":\"https:\/\/renovateme.co.uk\/blog\/wp-content\/uploads\/small-logo.jpg\",\"width\":300,\"height\":100,\"caption\":\"Renovate Me\"},\"image\":{\"@id\":\"https:\/\/renovateme.co.uk\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/renovateme.co.uk\/blog\/#website\",\"url\":\"https:\/\/renovateme.co.uk\/blog\/\",\"name\":\"\",\"description\":\"Blog for Renovation and Build\",\"publisher\":{\"@id\":\"https:\/\/renovateme.co.uk\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/renovateme.co.uk\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#webpage\",\"url\":\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/\",\"name\":\"Abolishment of wear and tear allowance and new replacement furniture relief -\",\"isPartOf\":{\"@id\":\"https:\/\/renovateme.co.uk\/blog\/#website\"},\"datePublished\":\"2016-11-03T22:06:49+00:00\",\"dateModified\":\"2018-09-07T19:25:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/renovateme.co.uk\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Abolishment of wear and tear allowance and new replacement furniture relief\"}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#webpage\"},\"author\":{\"@id\":\"https:\/\/renovateme.co.uk\/blog\/#\/schema\/person\/9aaf8f19e260722c79efc5c369318c8e\"},\"headline\":\"Abolishment of wear and tear allowance and new replacement furniture relief\",\"datePublished\":\"2016-11-03T22:06:49+00:00\",\"dateModified\":\"2018-09-07T19:25:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#webpage\"},\"wordCount\":178,\"publisher\":{\"@id\":\"https:\/\/renovateme.co.uk\/blog\/#organization\"},\"keywords\":[\"property tax\"],\"articleSection\":[\"Taxation\"],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/renovateme.co.uk\/blog\/#\/schema\/person\/9aaf8f19e260722c79efc5c369318c8e\",\"name\":\"Simon Johnson\",\"description\":\"Simon is a Director in KPMG\\u2019s Private Client Advisory department based in the West Midlands. He advises a range of UK and international private clients including private equity executives, entrepreneurs, high net worth individuals, partnerships and individuals on UK and international aspects of their day to day tax affairs and has a wide range of experience in advising on property matters including property development, land and property sales, rental businesses and how to hold property for both UK resident and non-UK resident investors. Simon is passionate about adding value and articulating clear and practical recommendations that support business and wealth strategy. Please note that Simon\\\\'s blogs or any other material on this website are only intended as general information and should not be relied upon as a substitute for formal advice.\",\"url\":\"https:\/\/renovateme.co.uk\/blog\/author\/simon-johnson\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Abolishment of wear and tear allowance and new replacement furniture relief -","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/","og_locale":"en_US","og_type":"article","og_title":"Abolishment of wear and tear allowance and new replacement furniture relief -","og_description":"From 6 April 2016 the wear and tear allowance for the rental of furnished properties is no longer available and has been replaced with a…","og_url":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/","article_publisher":"https:\/\/www.facebook.com\/Renovate-Me-Limited-1532414700378807\/","article_published_time":"2016-11-03T22:06:49+00:00","article_modified_time":"2018-09-07T19:25:20+00:00","twitter_card":"summary","twitter_misc":{"Written by":"Simon Johnson","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Organization","@id":"https:\/\/renovateme.co.uk\/blog\/#organization","name":"Renovate Me","url":"https:\/\/renovateme.co.uk\/blog\/","sameAs":["https:\/\/www.facebook.com\/Renovate-Me-Limited-1532414700378807\/","https:\/\/uk.pinterest.com\/RenovateMecouk\/pins\/"],"logo":{"@type":"ImageObject","@id":"https:\/\/renovateme.co.uk\/blog\/#logo","inLanguage":"en-US","url":"https:\/\/renovateme.co.uk\/blog\/wp-content\/uploads\/small-logo.jpg","contentUrl":"https:\/\/renovateme.co.uk\/blog\/wp-content\/uploads\/small-logo.jpg","width":300,"height":100,"caption":"Renovate Me"},"image":{"@id":"https:\/\/renovateme.co.uk\/blog\/#logo"}},{"@type":"WebSite","@id":"https:\/\/renovateme.co.uk\/blog\/#website","url":"https:\/\/renovateme.co.uk\/blog\/","name":"","description":"Blog for Renovation and Build","publisher":{"@id":"https:\/\/renovateme.co.uk\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/renovateme.co.uk\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#webpage","url":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/","name":"Abolishment of wear and tear allowance and new replacement furniture relief -","isPartOf":{"@id":"https:\/\/renovateme.co.uk\/blog\/#website"},"datePublished":"2016-11-03T22:06:49+00:00","dateModified":"2018-09-07T19:25:20+00:00","breadcrumb":{"@id":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/renovateme.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"Abolishment of wear and tear allowance and new replacement furniture relief"}]},{"@type":"Article","@id":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#article","isPartOf":{"@id":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#webpage"},"author":{"@id":"https:\/\/renovateme.co.uk\/blog\/#\/schema\/person\/9aaf8f19e260722c79efc5c369318c8e"},"headline":"Abolishment of wear and tear allowance and new replacement furniture relief","datePublished":"2016-11-03T22:06:49+00:00","dateModified":"2018-09-07T19:25:20+00:00","mainEntityOfPage":{"@id":"https:\/\/renovateme.co.uk\/blog\/abolishment-wear-tear-allowance-new-replacement-furniture-relief\/#webpage"},"wordCount":178,"publisher":{"@id":"https:\/\/renovateme.co.uk\/blog\/#organization"},"keywords":["property tax"],"articleSection":["Taxation"],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/renovateme.co.uk\/blog\/#\/schema\/person\/9aaf8f19e260722c79efc5c369318c8e","name":"Simon Johnson","description":"Simon is a Director in KPMG\u2019s Private Client Advisory department based in the West Midlands. He advises a range of UK and international private clients including private equity executives, entrepreneurs, high net worth individuals, partnerships and individuals on UK and international aspects of their day to day tax affairs and has a wide range of experience in advising on property matters including property development, land and property sales, rental businesses and how to hold property for both UK resident and non-UK resident investors. Simon is passionate about adding value and articulating clear and practical recommendations that support business and wealth strategy. Please note that Simon\\'s blogs or any other material on this website are only intended as general information and should not be relied upon as a substitute for formal advice.","url":"https:\/\/renovateme.co.uk\/blog\/author\/simon-johnson\/"}]}},"_links":{"self":[{"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/posts\/916"}],"collection":[{"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=916"}],"version-history":[{"count":2,"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/posts\/916\/revisions"}],"predecessor-version":[{"id":918,"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/posts\/916\/revisions\/918"}],"wp:attachment":[{"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renovateme.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}