Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Making a renewal

27 May 2014 / Martin Edhouse
Issue: 4453 / Categories: Comment & Analysis , Business

The latest attempt to clarify statutory renewals allowance issues


  • Extra-statutory concession B47 was withdrawn from 6 April 2013.
  • The uncertainty caused by the omission of an example from HMRC’s new guidance.
  • The statutory basis and the 10% of net rents deduction.
  • Lack of relief for some items of plant.
  • The need to clarify “furnished” and “unfurnished”.

In December 2011 after a series of reviews and informal consultations HMRC announced the withdrawal of extra-statutory concession (ESC) B47 from 6 April 2013.

This concession was originally issued in September 1995 being a reclassification and rewording of statement of practice (SP) A19 (which itself was originally issued as a press release in October 1977).

These ESCs SPs etc dealt with wear and tear allowances that reflected the depreciation of furniture and similar items in let furnished...

If you or your firm subscribes to, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.

Download the exclusive Xero
free report here.

New queries
Please email any questions you might have

back to top icon