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Most landlords unaware of removal of tax allowance for unfurnished unit

The RLA has conducted a survey with the Chartered Institute of Taxation (CIOT) and ICAEW to find out if landlords were generally aware of the change in the tax rules with regards to unfurnished property and found that three out of four landlords were unaware of the change.

The RLS also asked if landlords would change from unfurnished lets to fully furnished or totally unfurnished as a consequence. There were 628 responses and of these the majority of landlords provide white goods (74%), carpets (98%) and curtains (79%) in their unfurnished rental properties and just over half said the lack of tax relief would change the frequency the items were replaced while 63% will either stop providing such furnishings or become fully furnished.

Those landlords who change to fully furnished lets will then be eligible for the wear and tear allowance calculated as 10% of rents received.

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