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Is it furnished?
We act for several 'buy to let' investors and the following queries seem to arise on a regular basis.
What constitutes 'furnished lettings? In some cases beds and chairs may be provided, but not all furniture (e.g. sofa). If this constitutes 'unfurnished' letting, presumably no relief is available for the beds, etc. until they are replaced. Can anyone explain where the dividing line between furnished and unfurnished is drawn?
Is it furnished?
We act for several 'buy to let' investors and the following queries seem to arise on a regular basis.
What constitutes 'furnished lettings? In some cases beds and chairs may be provided, but not all furniture (e.g. sofa). If this constitutes 'unfurnished' letting, presumably no relief is available for the beds, etc. until they are replaced. Can anyone explain where the dividing line between furnished and unfurnished is drawn?
Various decorating and other expenses are incurred before a property is let (not refurbishment) to make them more attractive to tenants. Mortgage interest is also incurred. Are these expenses allowed against future income, in the same way as pre-trading expenditure?
Readers' thoughts are welcomed.
(Query T16,491)
