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Wear and Tear Allowance and Mortgage Interest Residential

16/01/2019 14:53:36
Please can you confirm if the 10% wear and tear allowance is still valid for 17/18 tax year?

Please confirm the Mortgage Interest % claimable for resintial lets for the 17/18 tax year also?

thanks
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Wear and Tear Allowance and Mortgage Interest Residential

16/01/2019 15:03:23
I found this which was quite useful for me
https://www.which.co.uk/money/tax/income-tax/tax-on-property-and-rental-income/buy-to-let-mortgage-tax-relief-changes-explained-atnsv0j6j782
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Re:Wear and Tear Allowance and Mortgage Interest Residential

16/01/2019 15:06:39
Hi,

Thank you for your question.

The 10% wear and tear allowance ceased at 5 April 2016.

This was replaced by Domestic Items relief which came into force on 6 April 2016.

Further guidance can be found at:

Income Tax when you let property: work out your rental income
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Re:Wear and Tear Allowance and Mortgage Interest Residential

16/01/2019 15:10:48
Hi katie13,

Thanks very much for your contribution.

Just to make our customers aware, and with reference to our terms and conditions of the forum, that whilst contributors are able to include links to other sources they may find useful, HMRC does not endorse any content or links to 3rd party sites.

All our guidance can be found on Gov.uk.