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Thanks for your question - I am Sam and I am one of the UK tax experts here on Just Answer.
I am afraid no refurb costs are allowable against rents - these generally are a capital expenditure allowable against the gain at sale. Just repairs and maintenance with a tenant in situ is allowable against the rental income .
So the general decoration is not allowable but the new flooring can be claimed against the gain at sale.
As the property will be furnished - then 10% will be allowable as wear and tear against the furniture OR you can have the replacement value as and when an item needs replacing. But you cannot have the initial outlay on the purcahse costs - these are a cost to you.
I hope this assist in making the position clearer -
Thanks for your response
Yes that's the 10% wear and tear allowance which you can claim each tax year OR you claim the renewals basis which does not allow anything for the actual initial purcahse but allows any future replacement costs.
So its either/or