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Investment properties

In: UK Gaap

Author

Listed:
  • Mike Davies

    (Ernst & Young)

  • Ron Paterson

    (Ernst & Young)

  • Allister Wilson

    (Ernst & Young)

Abstract

The category of ‘investment properties’ (defined at 2.1 below) was invented by the property industry in the late 1970s as a means of avoiding the requirement to depreciate buildings. The property industry has argued consistently that it is inappropriate to depreciate investment properties, as it is the current value of such properties which is of prime importance as a measure of performance. Lobbying by the property industry and others led to temporary exemption for investment properties when SSAP 121 was published in December 1977, requiring all assets with finite useful lives to be depreciated. The temporary exemption was originally intended to last for one year, but was extended first for a further year and subsequently for a further 18 months before S SAP 192 became effective, and SSAP 12 was then amended to make the exemption for investment properties permanent.

Suggested Citation

  • Mike Davies & Ron Paterson & Allister Wilson, 1992. "Investment properties," Palgrave Macmillan Books, in: UK Gaap, edition 0, chapter 0, pages 525-543, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12998-0_7
    DOI: 10.1007/978-1-349-12998-0_7
    as

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