Okay, so our newly-extended IP has just suffered significant fire damage. Everything was brand new and the place had only been tenanted a week or so! Luckily we have both LL and building insurnance.
Would I be correct in assuming that it would be worth getting a depreciation person in to measure damage and that we could get a hefty scrapping allowance for this?
Also, once everyhing is fixed/replaced, do we need a new depreciation schedule or can we go on the one we already had done... as only lived in for a week and everything will be replaced the same?
Would I be correct in assuming that it would be worth getting a depreciation person in to measure damage and that we could get a hefty scrapping allowance for this?
Also, once everyhing is fixed/replaced, do we need a new depreciation schedule or can we go on the one we already had done... as only lived in for a week and everything will be replaced the same?