UK Landlord Forum / Life

As I understand it, the way this new tax allowance will work is that you cannot claim for initial furnishing set up but for all replacements. (Assuming the new item has the same usage).

Does this mean that if I buy a new flat in 2016, furnish it with a load of old tut for the first month then replace with new furniture the next month I would be able to claim cost against tax??

Please be careful of advice received from websites (including my own) and always do your own research.
Obviously I cannot understand your full situation from a small blog....

Hahaha Liber8me
I like the thinking and as far as I can see you are correct.

You obviously need to check if it is worth the hassle and of course if your tax position warrants the cost of the tat in the first place.  You do realize there is nothing in there (yet) that actually requires you to show the cost or even existence of the tat.   
There is some requirement to replace like for like e.g. Washing machine for washing machine not washer dryer... Which require Landlords to keep a record of not only the new item but also the old one being replaced, but technically that was the case before if claiming for repairs.
Let's see how they will legislate..which is the most important point here.... the rules are not yet set there is a consultation open...

https://www.gov.uk/government/consultations/replacing-wear-and-tear-allowance-with-tax-relief-for-replacing-furnishings-in-let-residential-dwelling-houses

So nothing anyone can tell is definitely correct (yet)

Of course if the tax man came looking and you had spent £500 in month 1 and then £5000 in month 2 he always has the right to call foul, but you would be in good dispute territory.  I would suggest you wait if you can until the legislation actually comes out.

Best of luck