How should we classify car parks - as land or buildings?
Does it depend on the nature of the car park…i.e. if it’s just rough ground - a piece of spare land that is used for parking, it might be classified as land…however if it’s a modern car park with a tarmac surface that needs maintenance then there are arguments that the surface would be treated as a ‘building-component’ and depreciated and the underlying land accounted for separately.
It’s not something covered in the accounting code or guidance
All views are welcome!