What expenses can be claimed for Wear and Tear?

November 2, 2011 MyHome by MyHome
What expenses can be claimed for Wear and Tear?

 

If a premises is let for residential purposes and it is furnished, a claim can be made for a wear and tear allowance based on the cost of the furniture and fittings.

It is necessary to retain an itemised list of expenditure incurred each year.

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