Almost half (47 per cent) of landlords will be affected
by the removal of the annual wear and tear allowance, according to new findings
from the National Landlords Association (NLA). The research findings show that
a quarter of landlords (24 per cent) let their properties fully furnished, with
22 per cent letting a mixture of furnished and unfurnished properties. Just
over half of landlords (53 per cent) let their properties on an unfurnished
basis. The news comes shortly after the government announced its intention to
scrap the annual wear and tear allowance – which is only available for
furnished properties – and replace it with a tax relief system that enables all
landlords to deduct the costs they actually incur on replacing furnishings in
the property. Read more on the NLA website.
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