Postby AvocadoK » Sun Jun 08, 2014 8:27 am
Out of interest, the HMRC consultation document withdrawing the 'renewals' concession implied that the renewal of an item of plant (say a fridge) would attract relief under s68.
To quote the relevant para:
If the taxpayer’s qualifying activity is an ordinary property business or an overseas property business Section 35(2) of CAA denies capital allowances for qualifying expenditure incurred in providing plant or machinery for use in a dwelling-house. In such cases, relief will be available either under Section 68 ITTOIA 2005/Section 68 CTA 2009 or, for furnished lettings, under the wear and tear allowance at Sections 308A to 308C ITTOIA 2005.
Not sure if this was a careless/deliberate error, or did they just change their minds?