What is the wear and tear allowance?
This is the alternative way of obtaining relief for the provision of furniture within a furnished let property. You may choose to get relief for the furniture by either the renewals basis (where nothing is allowed when the furniture is first bought, but as and when any item is replaced the full cost of the renewal is allowed) or by claiming the 10% wear and tear allowance (being 10% of the rents). Where the 10% allowance is claimed, no further deduction is allowed for renewing furniture or furnishings. This includes suites, beds, carpets, cookers, washing machines, crockery, cutlery etc.
