Valuations

There are many circumstances in which a formal Red Book valuation prepared by a Chartered Surveyor and RICS Registered Valuer is required or strongly advisable.  LPS Advisory Ltd can provide valuations for a multitude of purposes, including: 

 

Valuations for Sale, Purchase, Transfer and Strategic Decision-Making

Valuations are commonly required to support decisions relating to the purchase, sale or transfer of property, or for wider strategic, accounting or advisory purposes. In these cases, the valuation is typically prepared on the basis of Market Value, as defined by VPS2 of the RICS Valuation – Global Standards (Red Book), unless an alternative basis of value is required by the instruction. Market Value is defined as “the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.”  The adopted basis of value, together with all material assumptions, is set out clearly within the report. These valuations are used to inform negotiations, pricing strategy, asset planning and internal decision-making. Our advice is underpinned by detailed local market knowledge, analysis of comparable evidence and an understanding of prevailing market conditions and risk.

​

Help to Buy, Right to Buy, Shared Equity and Shared Ownership Valuations

Valuations may be required by a Housing Association, Homes England or scheme administrator in connection with Help to Buy, Right to Buy, Shared Equity or Shared Ownership properties. These are typically needed when selling, redeeming a loan or 'staircasing' to increase the level of equity owned. Such valuations must be undertaken by an independent RICS Registered Valuer and prepared in accordance with scheme-specific requirements. Reports are usually subject to a limited validity period, commonly three months, and where appropriate we can offer follow-up desktop valuations at a reduced fee, subject to instruction.

​​

Taxation - Capital Gains Tax, Probate and Inheritance Tax, and Annual Tax on Enveloped Dwellings (ATED)

LPS Advisory Ltd has extensive experience in providing valuations for taxation purposes, including Capital Gains Tax (CGT), Probate and Inheritance Tax (IHT), and Annual Tax on Enveloped Dwellings (ATED). These valuations may be required as at a current or retrospective valuation date and are commonly relied upon in submissions to HM Revenue & Customs. Tax valuations require careful consideration of statutory assumptions, valuation dates and available evidence. Our reports are prepared on a reasoned and defensible basis, with appropriate commentary to support the adopted value where scrutiny or challenge may arise. Given that HMRC may closely review or query valuations, it is important that they are prepared by an experienced surveyor with detailed local market knowledge and a clear audit trail.

​​​

Matrimonial and Divorce Settlement Valuations

Valuations are frequently required in connection with matrimonial proceedings, separation or divorce, to assist with the fair division of assets. We provide independent valuation advice for negotiation, mediation and court purposes, and where instructed, act as an expert witness in compliance with the Civil Procedure Rules (CPR) Part 35 or the Family Procedure Rules 2010 (FPR Part 25). Our role is to provide an objective and impartial assessment of value, enabling both parties and their advisers to understand the true market position of the property and progress matters efficiently toward settlement. Reports are prepared with clarity and transparency, having regard to procedural requirements and the overriding duty to the Court where applicable.

​

Other Purposes

In addition to the above, we undertake valuation work for a wide range of other purposes, including:

• Development and residual appraisals,

• Portfolio valuations,

• Insurance reinstatement cost assessments,

• Property and shareholder disputes,

• Dissolution of partnerships,

• Compulsory purchase matters,

• Pension-related valuations (including SIPPs and SSASs),

• Loft space and airspace valuations,

• Lease extension and freehold enfranchisement valuations,

• Diminution in value and compensation claims,

• Marriage value calculations.

 

If you are unsure which type of valuation is required, or whether a Red Book valuation is appropriate for your circumstances, please contact us to discuss your instruction and requirements.