richev Posted August 6, 2016 Share Posted August 6, 2016 Hi all, My wife and I are moving to Australia as Permanent Residents in September, and have a house in the London that we'll be renting out. So we need to get a proper valuation and suitable depreciation report arranged. For the valuation, can we just go with a valuation from our mortgage lender (The Halifax)? Can anyone recommend a company here that can do depreciation reports? Thanks so much! Richard Quote Link to comment Share on other sites More sharing options...
srg73 Posted August 9, 2016 Share Posted August 9, 2016 You need a chartered surveyor to undertake both. A good estate agent will be able to help not Halifax, you need a more traditional practice. S Quote Link to comment Share on other sites More sharing options...
paisleylass Posted August 9, 2016 Share Posted August 9, 2016 Google GM Tax, they can help! Quote Link to comment Share on other sites More sharing options...
Bungo Posted August 12, 2016 Share Posted August 12, 2016 Google GM Tax, they can help! I used GM tax for a couple of years and they never mentioned a depreciation report to me. Understandably because the UK does not allow such tax deductions and accordingly there is no demand for "depreciation reports", the concept simply doesn't exist in UK and I doubt OP will find anything acceptable. Quote Link to comment Share on other sites More sharing options...
Peach Posted August 12, 2016 Share Posted August 12, 2016 I used GM tax for a couple of years and they never mentioned a depreciation report to me. Understandably because the UK does not allow such tax deductions and accordingly there is no demand for "depreciation reports", the concept simply doesn't exist in UK and I doubt OP will find anything acceptable. The depreciation report is for the benefit of the Australian tax man.. it really is a "thing" and if you read the threads here Alan and Co often assist in having them drawn up. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted August 12, 2016 Share Posted August 12, 2016 http://www.gmtax.com.au/depreciation-rental-property-tax-deduction-on-australian-tax-returns/ Hi Richard. This might be of interest. Best regards. Quote Link to comment Share on other sites More sharing options...
chall5 Posted August 18, 2016 Share Posted August 18, 2016 Hi Alan, what's the cost of having the depreciation report done ? Does the QS need to visit the property ? Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted August 18, 2016 Share Posted August 18, 2016 Hi Alan, what's the cost of having the depreciation report done ? Does the QS need to visit the property ? Hi chall5. I recommend that you discuss this with the QS - their fee is an issue to be agreed between you and the QS. I anticipate a visit to the property will be needed so the depreciable items can be identified and scheduled. Best regards. Quote Link to comment Share on other sites More sharing options...
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