stamp duty treatment for renting a warehouse

carolyn

Hi, All

I have a question about leasing a commercial warehouse.

My friend has leased a commercial warehouse. It is a five years lease. They are paying the rent about 80,000 pounds annual. They also paid the stamp duty.

My question is how to record the stamp duty in bookkeeping? Shall I put into the fixed assets account? if it is, how to calculate the depreciation. ?

Many thanks

Hui

carolyn

one more question, how to treat the relevant cost, e.g. legal fees, land register fee? Can I treat them as the expenditure and claim VAT back? Many thanks.