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My service charge includes a depreciation charge – what’s that?

April 26, 2017charge depreciation includes service

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My service charge includes a depreciation charge – what’s that?

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Depreciation is a charge for the replacement of items as and when they become outdated and/or non reparable. It is calculated using the original cost over the useful life of the item (this can include items such as: lifts, TV aerials).