Wear and tear relief

LimerickX

Hi I am purchasing a property and intend to rent it out for the first few years. The property has an expensive kitchen with integrated appliances, and bathroom fittings etc are all top notch. Can I claim wear and tear on them even though I will have no receipts ? Thanks

black & white

I don't think so, AFAIR you can only claim on receipts and do it over 8 years, 12.5% per year. Maybe someone more up to date will have different information

DubCount

Dont think so. There are a couple of issues. First, all of the expensive kitchen was part of your purchase, so its going to be set against any Capital Gains Tax liability in the future, not offset against Income Tax. Secondly, even if you purchase the kitchen separately from the house, the cost of the kitchen would be considered a pre-letting expense (because it was purchased prior to you starting to rent out the property) and would not be allowable for income tax.

enricoh

A friend did this with high end furnishings and fittings in his rental. He is no longer a landlord. Be super selective op, best of luck with it.

LimerickX

Thanks All. I thought I would be able to and could base it off the value of the contents that I would be insuring. So fair enough if that's completely wrong. Thanks for advise.

herbalplants

No you can't

DFB-D

https://www.boards.ie/discussion/2058305031/wear-and-tear-relief

Talk to your accountant!

Generally - white goods = yes

Building fixtures (e.g. cabinets, sinks, etc) = no.

But be very careful of valuation you put on them.