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Red Book index

Red Book index

a

accounting concepts accounting standards acquisition costs adapted property adjusting events after-use value agricultural assets Alternative Accounting Rules alternative use value apportionments arm’s-length transactions asbestos assets assumptions assured shorthold tenancy auction price audit trails auditors authorised unit trusts automated valuation models

b

banding banks basis of value BIPRU building condition building services building societies business competition business valuations buy to let

c

capital gains tax car parking cash flows central government assets certificate charity Chinese walls CIPFA circulars and prospectuses classification of assets client confidentiality collective investment schemes commercial lease transactions commercial secured lending commercially sensitive situations common interest community assets company accounts competence complaints procedures compliance condensed reports condition of buildings confidence limits confidentiality conflicts of interest consents contamination contingent rent contractual rights copy report cost approach covenants critical reviews current value

d

damaged property date of report defects definition of value deleterious materials departures depreciable amount depreciated replacement cost depreciation deprival value desk-top valuations development properties development restrictions development schemes diminution of value directors’ responsibility disclosure discount rate disposals dispute settlements disrepair disrupted markets district valuers drive-by valuations

e

EBITDA economic life economic obsolescence effective date electricity transmission equipment encumbered assets Energy Performance Certificate environmental factors equity release products estimated amount ethical requirements European Mortgage Federation European Union excluded costs exemptions from standards existing use value existing use value for social housing expert witness exposure drafts extent of investigations external appraisals external valuers

f

factory premises fair maintainable operating profit fair maintainable turnover fair value fee basis feuhold land financial advisers financial institutions Financial Reporting Standards financial statements fire insurance valuation fire safety law firms fixed assets flats flooding risk forced sales frequency of valuations functional obsolescence further advances

g

glossary going concerns government assets government grants gross current replacement cost groups of properties guidance notes

h

hazardous materials headline rent heritage assets historic buildings home finance products Home Report in Scotland home reversion HomeBuyer Service hope value

i

immovables impairment loss improvements income approach independence industrial buildings infrastructure assets inheritance tax insider dealing inspections INSPRU Institute of Revenues Rating and Valuation insurance intangible assets integrity requirements inter-company leases interim valuations internal valuers International Accounting Standards International Financial Reporting Standards International Public Sector Accounting Standard International Valuation Standards investigations investment firms investment properties investment schemes investment trusts investment values IRRV

j

joint development contracts/ventures

k

knowledge requirements

l

lease concessions/terms leasehold leases lending liabilities licences lifetime mortgages limitations listed buildings litigation loan security local authority assets  ‘lotting

m

maintenance market instability market rent market value marketing constraints marriage value material changes material considerations members mergers methods of valuation mine workings minerals minimum lease payments mortgage lending value mortgage valuation report mortgages mundic

n

national association valuation standards negative values negligence negotiations net current replacement cost net effective rent net realisable value nil values non-adjusting events non-specialised development property non-trading property

o

objectivity obsolescence open market value operating leases operational assets operational entities opinions of valuer owner-occupied property

p

pavement valuations pension schemes Pensions Research Accountants Group permits personal goodwill personal property physical obsolescence planning controls planning permission plant and equipment playing fields portfolios preliminary valuation advice private finance initiative private sector depreciated replacement cost probate professional behaviour profits method projected market value prospectuses and circulars public interest public-private partnership public sector assets public sector depreciated replacement cost publication statements published references purpose of valuation

q

qualification requirements qualified investor schemes qualified surveyors quotas

r

rack rents radon gas reasonably efficient operator recent transactions recoverable amounts redevelopment registered social housing providers regulated purpose valuations regulatory issues re-inspections reinstatement rental incentives rental income rental value repairs replacement costs reporting currency reports repossession proceedings residential property residential property mortgages residual value restricted information available restricted value restrictions retrospective valuations revaluation frequency revaluation without inspection reviews risk assessment Rules of Conduct running costs

s

sale and leaseback sales incentives sample inspections Scotland Scottish Home Report S-curve for depreciation secured lending selling costs shared equity schemes shared ownership property site improvements skills small companies social housing special purchaser special value special assumptions specialised adaptations specialised property staircasing stamp duty land tax standing independent valuer Statement of Auditing Standards statement of value statements of recommended practice Statements of Standard Accounting Practices states statutory function surplus assets sustainability synergistic value

t

Takeover Code Takeover Panel taxation tenanted property tenure terms of engagement terms of lease third parties time as signatory time constraints time weighted rate of return title trade related property trading potential trading stock trustee mortgages

u

UK Generally Accepted Accounting Principles uncertainty unit trusts unrestricted value useful life

v

vacant land vacant possession valuation basis valuation certificate valuation date valuation reports value added tax value in use value to the business Valuer Registration Scheme verification of information voluntary conditions

w

waste management willing lessees/lessors willing purchasers willing sellers worth

y

yield

Z

zoning