406 Restriction on use of capital allowances on fixtures and fittings for furnished residential accommodation

This section outlines restrictions on the use of capital allowances for capital expenditure on fixtures and fittings in furnished rental residential accommodation. Where a person incurs such expenditure in respect of a house used solely as a dwelling which is let as a furnished house on bona fide commercial terms (i.e. subsection (7) of section 284 applies), and an allowance is to be made in respect of that expenditure under that section, sections 305(1)(b), 308(4) and 420(2) shall not apply as respects that allowance.

Relevant Date: Finance Act 2021