Confused about capital allowances

worrywart

Registered User
Messages
14
Hi we are "accidental landlords" we tried to sell our house but failed. We had to rent it out as we had to move due to work relocation.

We started renting out the house in November 2012 so therefore I am aware that we will only be able to claim any expenses for two months. I am confused about capital allowances as we had lived in this house for 9 years and therefore all of the furniture etc had been bought nine years ago. Can we still claim capital allowances?

Any advice appreciated.
 
I've looked at this issue before and I wasn't able to come to a definite conclusion. The approach I took was to treat the assets as being acquired in the year that the house was first rented and their value at that date. This leads to the obvious issue - how much is nine year old furniture worth??