Under s119 of the Charities Act 2011 as amended, when trustees are proposing to enter into a sale/disposal of property, they must obtain a written report from a designated adviser that the trems proposed are the best that can be reasonably obtained for the charity. We have represented a variety of charities in providing such reports from religious bodies to community trusts.
Red Book Valuation Information and FAQs
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A Red Book valuation is undertaken by a RICS registered Chartered Surveyor.
A Red Book valuation is often requested by your professional advsior such as a solictor or accountant and is very helpful for tax planning and mitigation.
The RICS red book contains rules and guidance to ensure that qualified valuers provide the highest standard of valuations.
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We will discuss with you on the phone some basic details about the charity, its objectives and the asset ion question.
A fee proposal is then made followed by a site survey of the property. Evidence is then researched to collate appropriate evidence to support an appropriate valuation and a recommendation is made as to whether the terms agreed are appropriate.
The valuation is then submitted to the trustrees for review.
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We specialise in providing Red Book probate valuations in Surrey, Sussex, Hampshire, London and the South East but also cover the UK where multiple assets are owned.
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We cover all asset classes including residential, commercial, agricultural, equestrian and rural properties.
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As a trustee of your charity, you have obligations to ensure that the overall governance and management of the charity is fit for purpose and meets the overall aims of the charity. You must ensure the charity meets its stated purposes for public benefit.