Concise Rural Taxation 2017/17 Now Available

Concise Rural Taxation (formerly Taxation for Students of Rural Land Management) is now an annual publication.  This year’s edition is now available. Continue reading “Concise Rural Taxation 2017/17 Now Available”

How to pass the Agriculture Competency of the RICS Rural APC

All candidates for the RICS (Royal Institution of Chartered Surveyors) Rural Assessment of Professional Competency (APC) must satisfy the examiners that they have a sound agricultural knowledge.  Three levels are specified and all candidates must achieve at least Level Two while some will opt for the higher Level Three.

What do we know about these requirements?  The RICS guide tells us that at Level Two we must demonstrate application of the principles and systems of practical farming methods.  This might involve questions on crop rotations, cultivations, general husbandry and marketing.  Animal welfare and record keeping can also be questioned, as well as the wide body of regulations which affect farming in one way or another.  Candidates are expected to know how to prepare detailed farm finance plans and budgets.

At the higher Level Three candidates are expected to have provided professional farm management advice (the provision of reasoned advice to stakeholders on the management and practical application of appropriate methods and requirements of farming, according to the guide).

Alongside all this, you are also expected to know about the utilization and cost of farm buildings.

Quite a tall order, but nevertheless essential knowledge for a rural surveyor who wishes to work for farmers and landowners while maintaining credibility with the client.

This is a professional examination and there is no substitute for direct experience and, just as important, intelligent engagement with the farming industry.  Regular reading of the trade press can help to imbue current market information and trends.

But even the best informed of candidates can struggle under examination conditions.  With a view to this we have developed a new web class with RICS Training, an Agriculture Competency Masterclass which will run on Friday 2 October at 12.00 for 90 minutes.  It won’t take you from zero to hero in that time, but it will help you to prepare soundly for the professional interview.  If any participants would like me to email me a copy of their agriculture submission at Levels 1, 2 and 3 if available I will happily consider them for anonymous inclusion in the class so you will get the benefit of direct feedback while adding to the value of the class for all participants.

The class costs no more than £30, less if you or your firm are a subscriber and details and bookings can be arranged here: RICS Agricultural Competency Masterclass

Rural Valuation Training Day – 16 September – Trafford Centre Manchester

VALUATION TRAINING DAY

Monday 16 September 2013

Peel Holdings (Land and Property) Limited

Peel Dome, The Trafford Centre, Manchester, M17 8PL

This event is kindly sponsored by Peel Holdings (Land and Property) Ltd and Charles Cowap with the objective of providing RICS and CAAV rural examination candidates with a timely update on valuation methods as they apply to rural assets.  With their support we are able to offer a very cost effective and focussed day’s training which should help any rural candidate to get to grips with the underlying methodological problems posed by a considerable range of rural asset valuations.  It should be extremely helpful to any candidates who are offering Valuation as one of their Level 2 or 3 Competencies in the RICS Rural APC.  Also an invaluable update for qualified practitioners.

 

Training Outcomes:

  • Enhanced familiarity with DCF (Discounted Cash Flow) approaches to appraisal in the context of the Red Book, associated guidance, and its concepts of ‘value’
  • Enhanced familiarity with modern applications of the Investment Method of Valuation;
  • Appreciation of the scope for marriage, or synergistic, value arising from different investment approaches;
  • Enhanced familiarity with relevant RICS guidance;
  • Enhanced familiarity with the DRC (Depreciated Replacement Cost), Profits and Residual methods in a rural context.

Programme:

10.00 Delegates meet in Room 503, Peel Dome for coffee and   registration
10.30 Speaker and group introduction

  •   Objectives of the day
  •   Recent experience and use of DCF and   Investment methods
  •   Red Book update: overview of the 2013 Red Book   update and what’s to come
  •   Implicit and Explicit approaches to appraisal   and their relationships to ‘Market Value’, ‘Fair Value’ and ‘Worth’.
  •   Red Book DCF Guidance
11.30 Discounted Cash Flow (DCF)

  •   Principles
  •   Does it result in a ‘valuation’ at all?
  •   Choice of Discount Rate
  •   Helpful tips for spreadsheets
  •   Emerging guidance on Renewables valuations
  •   Practice, practise, practice ….
12.30 Lunch
13.30 DCF Continued
14.00 Investment Method update

  •   Freehold at FMRV (Full Market Rental Value)
  •   Overrenting and underrenting
  •   Leasehold interests: dual rate is dead, RIP
  •   Applications
15.30 Tea and refreshments
16.00 Residual, DRC and Profits RoundUp
17.00 Review, questions, plenary
17.30 Close and disperse

CPD/APC Structured Learning: This training session will count for up to 6 hours of formal CPD, with up to a further 8 hours available from follow-up and related reading for delegates who wish to pursue this.  Further guidance will be available on this, and certification if required.

Charles Cowap MRICS FAAV RICS Registered Valuer

The programme will be delivered by Charles Cowap.  Charles qualified as a chartered surveyor and chartered valuation surveyor in 1983 and is well known to many in the profession through his work at Harper Adams University as well as his wide ranging involvement in CPD and other activities with and for the profession.  He is the main author of the RICS Guidance Note on Amenity Tree Valuation, the RICS Information Paper on Renewables Valuations as well as joint author of the joint CAAV-RICS guidance note on 1986 Act Rent Reviews.  In addition he also advised on the RICS Information Paper on Comparables, the Rural Property Information Paper and various aspects of the Red Book itself in its rural applications.  He is well known and respected as a speaker, writer, consultant and teacher in many areas of interest to the rural land management and valuation profession.  Charles is also the Estates Gazette’s Rural Estates Correspondent for their quarterly Rural View column.

Costs and Booking Details

The subsidised rate for APC or CAAV probationer examination candidates is £50 per head, inclusive of refreshments and parking.  Fully qualified practitioners may also take up any available places at the lower subsidised rate of £100 per head, inclusive of refreshments and parking.

Please request further information or reserve your place by using the contact form below:

Fees payable on receipt of invoice before attendance.  Joining instructions will be issued week commencing 9 September 2013.

We advise early booking as places are likely to be in high demand and limited by the venue.  Please contact Charles Cowap if you would like any further information about the programme or venue, using the form above.

Small print

Cancellations must be received in writing ten working days before the event and will be subject to a 50% administration charge.  No refunds will be made for bookings cancelled after this time.  Substitutions may be made at any time.

We would like to hold your details on a database for circulating information about future events, activities and publications only. We will NOT release your details to a third party.  Please advise if you do not want us to hold your details in this way.

The content, date, timing or speakers may have to be changed either to reflect developments occurring before 16 September or for other reasons beyond our control.  In the event of having to postpone the event, delegates will be offered an alternative date or a full refund.  We reserved the right to cancel the event at our absolute discretion in which case full refunds will be made.