Legal & Reg Compliance Flashcards
What did you do to the distribution warehouse in Hinckley?
I removed the value of the photovoltaic panels from the assessment with effect from 01/04/2022 in line with the P&M Amendment Regulations 2022 which exempt all renewable P&M up to 2035.
What are solar panels/photovoltaic panels?
They capture the sun’s energy and convert it into electricity to use on site.
What class would solar panels/photovoltaic panels fall into?
Class 1 of the P&M Regs 2000.
What else did the 2022 P&M Amendment Regs state?
EVCP P&M also exempt up to 01/04/2035.
What was the Wilkinson v Edmundson decision [2017]?
Walkways supported by non-rateable racking were not rateable either. Relevant to my role.
What happened with the flour mill in Liverpool?
I made the Challenge ‘incomplete’ as it was unlawful. The rent declared by the agent did not match the passing rent provided on earlier rent form by the occupier. The 2017 Amendment Regulations state that the amount payable each year at the time the proposal is made must be provided.
Have any amendments taken place to the Red Book?
An updated UK Supplement will take effect from May partly as a result of the Pereira Grey Valuation Review. An updated Global Red Book document is planned to come into effect in early 2025 to aline with Pereira Grey recommendations and updated IVS.
Who commissioned the Valuation Review by Peter Pereira Grey?
The SRB.
What are the Bichard and Levitt Reviews?
They are independent reviews commissioned by the RICS Governing Council into the purpose, governance and strategy of the RICS.
How do you ensure regulatory compliance?
I adhere to the RICS Rule of Conduct for all chartered surveyors and the RICS ‘Red Book’ for Chartered Valuers. E.g. I adhere to CPD requirements.
What is the difference between legislation and regulation?
Legislation is law passed by a legislative body that must be adhered to by everyone. Regulations are rules issued by executive/professional body’s such as the RICS that members must follow.
What legislation governs CCA?
The Non Domestic Rating Regulations 2009 and the Non Domestic Rating Amendment Regulations 2017.
What are the advantages of CCA?
Factual issues get resolved quicker speeding up the appeal process. Evidence provided up front.
What must be provided in a Challenge to make it lawful?
Grounds, alternative valuation, supporting evidence plus substantive reasons for the Challenge supported by evidence.
What happened in Hewitt v Telereal Trillium [2019] UKSC.
Arrive at a rent which best represents the resulting compromise of conflicting interests between a willing landlord who wants to receive as much as he can and a willing tenant who wants to pay as little as he can, in a hypothetical negotiation.
