Depreciation UK Property
Oct 1st 2012, 12:55 am
#1
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Joined: Oct 2008
Location: Brisvegas
Posts: 460
Depreciation UK Property
Has anyone experience of getting a depreciation report on their UK rental? I assume you need a surveyor to do this? Do the tax benefits from the depreciation outweigh the cost of the report? Friends in Oz seem to claim loads for depreciation - any thoughts/advice most welcome 
Oct 1st 2012, 2:48 am
#2
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Joined: Jan 2003
Location: Brisbane
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Re: Depreciation UK Property
As far as I can see you cannot depreciate the house itself, but you can depreciate some of the fitting. eg curtains, central heating, dishwasher, fences, etc.
I've no idea how strict they are but when I had a similar depreciation done in NZ they allowed me to dep Partitions (9.5%), Electrical Reticulation (7.5%), Plumbing Fixtures (7.5), as well as all the obvious things. These 3 items were valued at more than $NZ30,000 initially and were depreciated faster then the house building itself (4%).
I've no idea how strict they are but when I had a similar depreciation done in NZ they allowed me to dep Partitions (9.5%), Electrical Reticulation (7.5%), Plumbing Fixtures (7.5), as well as all the obvious things. These 3 items were valued at more than $NZ30,000 initially and were depreciated faster then the house building itself (4%).
