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When claiming the 10% wear and tear deduction in respect of furnished lettings, the general guideline is to deduct from the gross rents those amounts that would normally be the tenants' responsibility; e.g. rates, water rates, etc. I have always understood that this should extend to heat and light where the landlord pays these, e.g. in multiple-occupancy houses or 'flat conversions' where there is no separate metering from which individual tenants can be held responsible. Is this correct?
When claiming the 10% wear and tear deduction in respect of furnished lettings the general guideline is to deduct from the gross rents those amounts that would normally be the tenants' responsibility; e.g. rates water rates etc. I have always understood that this should extend to heat and light where the landlord pays these e.g. in multiple-occupancy houses or 'flat conversions' where there is no separate metering from which individual tenants can be held responsible. Is this correct?
A leading software provider requires expenditure to be coded and only one category of expense (rates etc.) can be attributed to not cause the deduction.
If readers do believe that heat and light described above should be deducted the option with this software is to code for the deduction in which case the entry goes to the wrong box on the tax return or not...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
