Hi All,
First time landlord here looking for advice on the following:
We are renting our house from 1st August 2012- 31st July 2013.
For the purposes of calculating allowable capital allowances/depreciation on fixtures & fittings am I correct if I do the following?:
2012- add up the values of all the fixtures & fittings, calculate 12.5%, then as we are only renting for 5 months of 2012 calculate 5/12 of that figure?
2012- do the same except calculate on the basis of 7/12 months?
Also how do I assign values to the various fittings etc- eg if there is a kitchen table that cost €800 5 years ago how do I determine the value I use for it now- is it educated guesswork?
Also what can be claimed for under f&F depreciation-
can pretty much anything that is left in the rental property be included?
Many thanks in advance for any help on this,
Best Regards,
Mark