Most residential properties are owned directly by individuals, although in some cases a dwelling may be owned by a company, a partnership with a corporate member or other collective investment vehicle. In these circumstances the dwelling is said to be ‘enveloped’ because the ownership sits within a corporate ‘wrapper’ or ‘envelope’.
The current relevant valuation date is 1 April 2017 for all properties, or the date of acquisition if it is later, and with a revaluation required every 5 years.
Our valuations are undertaken in accordance with Part 3 of the Finance Act 2013 and RICS Guidance Note 3. Our valuation report will not only provide our valuation of the property at the required date, but will also give supporting evidence as to how we reached that figure.