Hi,
In June of 2012, we rented out the property we own and were living in. We are renting it to people we know. We have rented it fully furnished. By this I mean we have provided the usual chattels plus
Washing Machine/Dryer
Fridge
Microwave
TV
Various Lounge Furniture
BBQ
In July we bought another IP which was rented out (unfurnished) straight away.
This is obviously the first year that we will be going to see an accountant and doing a tax return as it is our first year with IP's.
My question is, I have been reading about chattels valuations. Do I need one for the accountant ? If so who does them?
Cheers.
In June of 2012, we rented out the property we own and were living in. We are renting it to people we know. We have rented it fully furnished. By this I mean we have provided the usual chattels plus
Washing Machine/Dryer
Fridge
Microwave
TV
Various Lounge Furniture
BBQ
In July we bought another IP which was rented out (unfurnished) straight away.
This is obviously the first year that we will be going to see an accountant and doing a tax return as it is our first year with IP's.
My question is, I have been reading about chattels valuations. Do I need one for the accountant ? If so who does them?
Cheers.
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