Rental accounts

Dottie
Dottie Registered Posts: 99 Regular contributor ⭐
edited 12:09PM in AAT member discussion
If I have a furnished property and claiming 10% wear & tear, can I also claim the cost of a new bathroom suite and associated expenses as capital allowances?

Thanks

Dottie

Comments

  • T.C.
    T.C. Registered, Tutor Posts: 1,430 Beyond epic contributor 🧙‍♂️
    You have to be sure on what is a capital expense and what is a necessary repair. To upgrade the bathroom suite could be capital expenditure, but replacement of a broken suite could be expenses. Capital expenditure is usually an enhancement or addition to the property, ie a conservatory or a new roof. Expenses are usually a repair of the existing property or repairs to a roof. That is how I always see the difference. Maybe others will give you advice too.

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