WTA

(redirected from Wear and Tear Allowance)
AcronymDefinition
WTAWomen's Tennis Association
WTAWhat the Ass
WTAWorld Travel Awards (UK)
WTAWhat the Actual
WTAWashington Trails Association
WTAWireless Telephony Application
WTAWhole Transcriptome Amplification (molecular biology)
WTAWillingness to Accept
WTAWinner Takes All
WTAWorse than Average (experiments)
WTAWinner-Take-All
WTAWorld Transhumanist Association
WTAWataniya Telecom Algerie (Algerian telecommunications operator)
WTAWorld Teleport Association
WTAWhatcom Transportation Authority
WTAWireless Telephony Application (WAP)
WTAWerewolf: the Apocalypse (game)
WTAWisconsin Towns Association
WTAWerewolf: The Apocalypse (a roleplaying game)
WTAWorld Tourist Attractions (observation wheel operator)
WTAWorld Tamil Association
WTAWestern Telecommunications Alliance
WTAWorld Toilet Association (Singapore)
WTAWear and Tear Allowance (taxation)
WTAWales Tourism Alliance
WTAWashington Trucking Association
WTAWarrant to Arrest (New Zealand)
WTAWax Thermal Actuator
WTAWestern Trucking Alliance (Upland, CA)
WTAWyoming Telecommunications Association
WTAWow! That's Amazing!
WTAWindward Islands Airways, Netherlands Antilles (ICAO code)
WTAWisconsin Trap Shooters Association
WTAWe The Accused (band)
WTAWork-center Task Assignments
WTAWorld Technologies Association
WTAWisconsin Telephone Association
WTAWorkcenter Task Assignment
WTAWork Task Assignment
References in periodicals archive ?
Removal of the Wear and Tear Allowance Since April 2013 where a taxpayer lets a fully furnished residential property, a deduction could only be claimed for a wear and tear allowance of 10% of the 'net rent' from the furnished letting, designed to cover the depreciation of furnishings.
The Government has now removed the wear and tear allowance and switched instead to the renewals basis.
For furnished properties, you can claim 10 per cent of the rent as a wear and tear allowance as well as council tax, electricity, television licence and accountancy fees.
From April 2016, a "wear and tear allowance", which allows landlords to reduce the tax they pay, regardless of whether they replace furnishings in their property, will also be replaced by a new system that only allows them to get tax relief when they replace furnishings.
For example, if a tenant uses their own beds, that would mean that the property is no longer fully furnished - and therefore neither the wear and tear allowance nor capital expenditure can be claimed for.
The stance on wear and tear allowances has also been tightened in recent years.