Hi,
Just starting to work on my tax return. I lived in a house as my PPR but then after five years moved out and rented it. I put in some new furniture at this time and some things were bought when i lived there. It is 4 bed, kitchen and 2 living rooms.
I have the F & F insured for 23,000 which is about the value - this includes kitchen presses, white goods, couch, carpets, beds etc. Is it reasonable to write off 1/8 th of this each year for depreciation in accounts.
Also I spent 1500 on a wooden deck. Is this likely to be accepted as F & F.
Any advice much appreciated.
Just starting to work on my tax return. I lived in a house as my PPR but then after five years moved out and rented it. I put in some new furniture at this time and some things were bought when i lived there. It is 4 bed, kitchen and 2 living rooms.
I have the F & F insured for 23,000 which is about the value - this includes kitchen presses, white goods, couch, carpets, beds etc. Is it reasonable to write off 1/8 th of this each year for depreciation in accounts.
Also I spent 1500 on a wooden deck. Is this likely to be accepted as F & F.
Any advice much appreciated.