CPD Training Seminars at 23 venues across the UK and In-House

THE PRACTICAL IMPLICATIONS OF THE NEW RICS VALUATION STANDARDS

A SERIES OF ONE DAY REGIONAL SEMINARS FOR CHARTERED SURVEYORS

RICS VALUATION STANDARDS

The RICS Appraisal and Valuation Manual – The Red Book – was replaced by the RICS Valuation Standards in January, 2008 and it is mandatory for all members of the RICS to comply with the Standards.

The new edition continues the process of ensuring valuations in the United Kingdom should follow international definitions whenever possible.  The RICS Valuation Standards contains a large amount of detailed guidance and explanation about the valuation process to ensure commonality of approach to valuation.  Valuation always contains some degree of risk and the person who is challenging the valuer will usually have the benefit of hindsight. The courts have accepted that a valuer cannot be expected to arrive at an exact figure and will accept some degree of latitude and so a plaintiff’s best hope of successfully challenging a valuer is to show that they did not follow the correct approach when undertaking the valuation. The RICS Valuation Standards provide what can be regarded as “best practice” so failing to comply with them immediately puts the valuer at risk. 

Much of the manual is concerned with specific types of valuation such as for Stock Exchange Prospectuses, Company Accounts and International Valuations. However, the seminar will concentrate on those areas of valuation, such as residential and commercial mortgage valuations, RICS Homebuyers Survey and Valuation, which are most relevant to every day use by small to medium sized organisations in the United Kingdom.

PROGRAMME

9.45am Registration and Coffee
10.00am Seminar Begins

Basics of Inheritance Tax

• An Outline of the New RICS Valuation Standards
• Compliance with the Standards
• Qualification of the Valuer
• The Agreement of Conditions of Engagement

11.30am Coffee

• The Bases of Value used in the Standard
• Valuations for Financial Statements
• Valuations for Secured Lending
• Valuations of Trade Related Property
• Valuation of Rural Property

1.00pm Lunch
2.00pm Afternoon Session Commences

• Inspection and Investigation
• The Valuation Report

3.30pm Tea

• Valuations for Capital Gains Tax and Inheritance Tax
• Home Buyers Reports and Residential Valuations

5.00pm Close

VENUES AND DATES - Spring 2008

• Abergele - 12th March
• Bodmin - 14th April
• Bridgwater - 15th April
• Cambridge - 14th February
• Lechlade, Glos - 28th February
• Maidstone - 7th February
• Newark - 21st February
• Newport, Salop - 13th March
• Pencoed - 16th April
• Penrith - 3rd April
• Salisbury - 6th March
• York - 2nd April

FEE
The fee for the seminar is £120 plus £21.00 VAT, to include refreshments, lunch and full seminar documentations.

A SEMINAR CAN BE READILY AND PROFITABLY APPLIED
Each seminar is conducted in a friendly and informal way. Each is a mixture of lectures and discussion designed not to be tedious or intimidating, and to give delegates the maximum benefit. Full seminar documentation;  a useful reference book, will be provided to those attending the seminar.

CONTINUING PROFESSIONAL DEVELOPMENT
Each of the seminars can provide up to six hours towards CPD.

Discounts

Professional Development (UK) Limited. Registered in England No. 2918315
Tel: (01502) 575633 or E-mail: info@pdl-training.com