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HMRC internal manual

Property Income Manual

From
HM Revenue & Customs
Updated
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Furnished lettings: Wear & tear allowance: Claiming - 2011/12 onwards

ITTOIA/S308A, CTA09/S248A

Taxpayers have to elect for the wear and tear allowance. An election has to be made for each tax year or accounting period.

The legislation does not specify any particular form for the election. Officers of HMRC will accept the entry of a sum including the wear and tear allowance in the appropriate box on the SA/CTSA as sufficient notice of election.

Income Tax payers

An election for wear and tear allowance has to be made on or before the first anniversary of the normal self-assessment filing date for that year.

Corporation Tax payers

An election for wear and tear allowance has to be made within two years from the end of the accounting period.