Misc

Question 1

What allows for review of banding following a sale?

Answer 1

Section 4 of Ctax Alteration of lists and appeals regs 1993

Question 2

You’ve dealt with a dwelling in disrepair. Is there case law related to this?

Answer 2

Macleod v Hwivjb 2000

Question 3

Part of a dwelling has been demolished to make way for extension. Would you review the band?

Answer 3

No, per S42A of Alts n appeals regs. If works in progress, shall not alter the band

Question 4

Ardersier freeport

Answer 4

Special economic zone designed to boast green industries.
Focus on offshore wind and green hydrogen
Rates relief but any development should be reflected on the roll

Question 5

On shore wind farms. How are they valued?

Answer 5

Comparable basis for site

Contractors for p&m/turbines

Question 6

Shooting rights?

Answer 6

Reintroduced in 2017.
Comparative method
Location -> land type -> rate per hectare

Question 7

Bichard review

Answer 7

Diversity & inclusion panel
Commercial activity to be separated from other activities
Rics matrix to give stronger voice to young members
Improvement in technology throughout RICS
A public interest panel created
Update of governing structure

Question 8

P&L

Answer 8

Compares income and expenditure

Question 9

Cash flow

Answer 9

Tracks cash coming and going out of business

Question 10

Balance sheet

Answer 10

Snapshot of what a company owes and owns at specific time

Question 11

IFRS V GAAP

Answer 11

IFRS = international finance reporting standard

Framework based in principle.

GAAP - generally accepted accounting practice

Governed by FRS 102. Rules based. Used by smaller companies typically

Question 12

P&m

Answer 12

Class 1 - power
Class 2 - services
Class 3 - communication/services
Class 4 - structural

Question 13

Examples of p&m

Answer 13

Crane rails, compressors, tracks and bunds

Question 14

Invalid ctax appeal?

Answer 14

Section 8 ctax alts and appeals regs

Question 15

R&E?

Answer 15

Used when there’s a degree of monopoly i.e. harbours and docks

Question 16

DRC - ERC costs

Answer 16

BCIS or QS
Modern replacement implementing new technologies and building techniques

Question 17

ARC?

Answer 17

Economic (state of market), physical (age and condition) and functional (technological/energy)

Question 18

Land value?

Answer 18

Comparative basis

Question 19

Grenfell?

Answer 19

EWS1 introduced 2019
Guidance from RICS in 2021
U.K. gov banned combustible elements from high rise cladding in 2018

Question 20

AI

Answer 20

Harris debate. Unknown and currently must be treated with caution.
Valuer judgement key in using automated valuation models
Ethical concerns - bias, data accuracy and transparency

Question 21

Current bank rate?

Answer 21

4.5%

Question 23

Adjudication?

Answer 23

Often temporary decisions come out of adjudication, designed to be fast. Adjudicator usually chosen from pre-agreed panel

Question 24

Arbitration?

Answer 24

More formal - arbitrator chosen by the parties and decision is usually formally binding

Question 25

What are lands and heritages?

Answer 25

A broad term encompassing various forms of property, both physical and incorporeal

Question 26

How are telecoms valued?

Answer 26

Hybrid method of comparison and contractors

Question 27

Difference between IPMS and code of measuring?

Answer 27

IPMS is global, standardises measurements by useable space, not just structure. COM is uk focused and uses traditional terms like GEA, GIA and NIA

Question 28

3ZA LGFA1975

Answer 28

Assessor may decide whether to agree with a proposal, partially agree with a proposal or disagree with a proposal

Question 29

How is land calculated for DRC?

Answer 29

Calculating the purchase land value

Question 30

Levitt Report

Answer 30

Greater oversight of the governing council Overhaul of whistleblowing procedures Financial bonuses at senior level to be reviewed

Question 31

According to Valuation Timetable (Scotland) Order 2022, what is last date for assessor to issue a decision?

Answer 31

Latest of - 30 sept in the year before a reval year - 30 sept in the year after the year the proposal is made - a year after the proposal has been made

Question 32

What is the planning designation for Site B?

Answer 32

Whole site, both A and B are zoned for mixed development

Question 33

What is meant by tone of the roll?

Answer 33

Tone of the roll essentially prescribes that any new or altered subject to the VR after a revaluation should be valued as if it existed in its current state at time of tone

Question 34

Why did you consider valuing in reference to the rent?

Answer 34

I am aware that in circumstances where there is not much rental or comparable evidence, it may be suitable to value in reference to the rent, adjusting for time and any other factors which may impact the passing rent