73 Property business deductions: replacement of domestic items
Finance Act 2016 (2016 c 24) | Legislation

Property Business Deductions

73  Property business deductions: replacement of domestic items

(1)     In Chapter 5 of Part 3 of ITTOIA 2005 (property income), after section 311 insert—

“Deduction for replacement of domestic items
311A Replacement domestic items relief

(1)     This section applies if conditions A to D are met.

(2)     Condition A is that a person (“P”) carries on a property business in relation to land which consists of or includes a dwelling-house.

(3)     Condition B is that—

(a)     a domestic item has been provided for use in the dwelling-house (“the old item”),

(b)     P incurs expenditure on a domestic item for use in the dwelling-house (“the new item”),

(c)     the new item is provided solely for the use of the lessee,

(d)     the new item replaces the old item, and

(e)     following that replacement, the old item is no longer available for use in the dwelling-house.

(4)     Condition C is that a deduction for the expenditure is not prohibited by the wholly and exclusively rule but would otherwise be prohibited by the capital expenditure rule (see subsection (15)).

(5)     Condition D is that no allowance under CAA 2001 may be claimed in respect of the expenditure.

(6)

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