Furnished letting tax changes

Furnished letting tax changes are expected to take effect from April 2016. The rules for furnished lets are changing as the government is removing the 10% deduction for wear and tear allowance and replacing it with a deduction for the actual cost of replacement furnishing. Tip; People with this type of income may wish to delay non-essential purchases until next April.

Please contact us for more details.

This entry was posted in Tax News. Bookmark the permalink.