At last I am retiring quitting as a reluctant landlord – one bad tenant, mature house that needs to much TLC & too much going on at work & at home… not to mention the tax!
On that note, I am trying to understand the tax implication of selling up on the previous spend on capital allowances (furniture, white goods, etc). For items that have not been fully depreciated, how are they treated? Do I write them off fully in this tax year if I dispose of the house and items in question?
On that note, I am trying to understand the tax implication of selling up on the previous spend on capital allowances (furniture, white goods, etc). For items that have not been fully depreciated, how are they treated? Do I write them off fully in this tax year if I dispose of the house and items in question?