Fixed assets are often one of the least well-maintained parts of a business’s accounting records — a growing list of equipment, vehicles, fit-outs and IT assets that gets added over the years without a clear, verified register behind it. Our Fixed Assets Services build and maintain that register properly, so your financial statements, audit and Corporate Tax filings all rest on accurate underlying asset data. This work can also form part of wider Accounting Services UAE where businesses need ongoing bookkeeping, reconciliations and financial reporting support.
What's Included
We build or clean up your fixed asset register, apply appropriate depreciation methods and useful lives to each asset category, conduct physical verification to confirm assets on the register actually exist and are in the condition recorded, and reconcile the register against your financial statements.
Where a business has assets that were never formally capitalised, or capitalised at an incorrect value, we also review historical additions and make the necessary corrections so the register reflects an accurate position going forward.
We also provide a simple summary report alongside the technical register, giving management a clear, non-technical view of total asset value, depreciation trends and any items needing attention. Where the work forms part of broader Accounting Services UAE, the updated register can be incorporated into the business’s ongoing financial reporting process.
Why Accurate Fixed Asset Records Matter
An inaccurate fixed asset register overstates or understates depreciation, which directly affects both your financial statements and your Corporate Tax calculation, since depreciation is a deductible expense. During an external audit, fixed assets are also a standard area of testing, and a poorly maintained register is one of the most common sources of audit findings and delay.
Physical verification specifically protects against assets that have been disposed of, lost or stolen but never removed from the books, which quietly overstates the value of the business on paper.
A clean, current fixed asset register also makes any future due diligence process — a sale, an investment, a bank facility — considerably faster, since asset values don’t need to be reconstructed under time pressure.
Who Needs This Service
Businesses with a meaningful base of equipment, vehicles, fit-outs or IT assets whose register hasn’t been reviewed in some time, businesses preparing for an external audit, and companies wanting confidence in their depreciation figures ahead of Corporate Tax filing.
What We'll Need From You
Your existing fixed asset register if one exists, purchase invoices for major asset additions, and physical access to the assets for verification where that is part of the engagement scope.
We may also need relevant financial records and supporting schedules where historical asset additions or disposals need to be traced back to the underlying accounting entries. These records can be reviewed alongside wider Accounting Services UAE requirements where necessary.
Our Process
We review and rebuild your fixed asset register as needed, apply correct depreciation treatment, conduct physical verification, and deliver a reconciled register ready to support your financial statements and tax filings.
Fixed Assets and Corporate Tax Depreciation Elections
UAE Corporate Tax offers certain elections around how depreciation is treated for tax purposes, and getting your fixed asset register accurate is the foundation for making an informed choice on these elections. We factor this into how we build and maintain your register.
Where fixed asset information affects the wider Corporate Tax position, the register can be reviewed alongside other records required for tax compliance. Businesses requiring broader tax and regulatory assistance can also access our Other Tax & Compliance Services to coordinate related compliance requirements.
Get Expert Help for Your Business
Talk to an FTA-approved tax consultant today. Free consultation, no obligation — we’ll tell you exactly what your business needs.
Getting Started
Share your current fixed asset records, however incomplete, and we will assess what needs correcting and quote a fixed fee for bringing the register up to standard.
Fixed Asset Tagging and Tracking
For businesses with a larger or more mobile asset base — equipment that moves between sites, for instance — we can implement a simple asset tagging system alongside the register, making future physical verification faster and more reliable.
Fixed Assets for Leasehold Improvements and Fit-Outs
Leasehold improvements and fit-out costs are a common area of confusion — often expensed when they should be capitalised, or capitalised with an incorrect useful life relative to the remaining lease term. We apply the correct treatment specifically to these costs, which are especially common in retail, F&B and office-based businesses.
Insurance Valuation Support
An accurate, up-to-date fixed asset register also supports appropriate insurance coverage — under-insuring assets that were never properly valued, or over-insuring assets that were disposed of years ago, are both avoidable once the register reflects reality.
Fixed Assets in Multi-Location Businesses
Businesses operating across several locations often struggle to keep a single, accurate consolidated fixed asset register, with assets moved between sites informally and never updated centrally. We build a register structure that tracks location alongside standard asset detail, so nothing gets lost between sites.
Fixed Assets Fees and Engagement Structure
Fixed asset engagements can be a one-off register clean-up and verification project, or an ongoing service maintained alongside your regular accounting. We quote a fixed fee for either, scaled to your asset volume and current record quality.
Frequently Asked Questions
A detailed listing of each asset, its cost, acquisition date, useful life, depreciation method, accumulated depreciation and current net book value.
Many businesses verify annually alongside their audit cycle, though the right frequency depends on asset volume, value and how mobile the assets are.
Yes — depreciation is a deductible expense in calculating taxable income, so an inaccurate register can directly distort your Corporate Tax position.
Yes — we regularly build a register from scratch, working from purchase invoices and physical verification where historical records are incomplete.
Yes — we record disposals correctly, including any gain or loss on disposal, and remove the asset from the register once it has been confirmed as disposed of.