The Valuation Office Agency are the independent body with responsibility for valuing all commercial property for taxation. They have recently updated their website with further information explaining how business rates are calculated, including a series of short videos. Many of the techniques they used are also adopted by Surveyors when carrying out formal valuations for rent reviews, lease renewals, pension funds and other uses, so can be applied to a wide range of valuation matters.
At Oldfield Smith we handle all forms of valuation work for our clients, including rating appeals and “red book” reports for accounting and other purposes. Our Professional Services Department is headed by Bernard Smith, who is a Chartered Surveyor, Registered Valuer and corporate member of the Institute of Revenues, Rating and Valuation, so our clients can be certain that our work meets the very highest standards of professional competence, as well as being informative and easy to read.
If you’ve ever wondered how valuations are carried out, what “zoning” of retail space means or what is the difference between “gross” and “net” areas, you may find this link interesting!
http://www.2010.voa.gov.uk/rli/static/HelpPages/English/video/Video.html#rents
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