Green56

I have a FHL property in the EEA. I have been declaring it to HMRC via my self-assessment using the depreciation calculation reflecting the Spanish declaration. However, it has come to light that the depreciation on buildings is not allowed on UK FHLs. Is this the case for Foreign FHLs where depreciation is allowable in the country of origin? As this will mean that I will have no tax to pay in Spain but a large tax bill in the UK as I have no foreign credit to offset the liability.