Agricultural Valuations : A Practical Guide book cover
5th Edition

Agricultural Valuations
A Practical Guide

ISBN 9781138678057
Published February 25, 2021 by Routledge
516 Pages 4 B/W Illustrations

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Book Description

Agricultural Valuations: A Practical Guide has long been the standard text for students and professionals working on agricultural valuations. Taking a practical approach, it covers all the relevant techniques and legislation necessary to correctly value farms, assess farm rents, carry out arbitrations, inventories and records of condition, including valuation clauses on sales of farms, livestock, soils, management agreements, valuation in court proceedings and a glossary of useful information.

In this fifth edition, Gwyn Williams's original text is taken on by Jeremy Moody and Nick Millard, renowned experts in the field, bringing the book right up to date to reflect recent changes in the rural economy, including development, diversification and renewable energy and specialist valuations and reference to all the latest legislation. Clear and accessible to students and professionals alike, readers will find Agricultural Valuations an invaluable guide to best practice in agricultural valuations.

Table of Contents

1. Introduction and history  PART 1: FOUNDATIONS  2. Agricultural land  3. Basic property law  4. Business structures for farming  5. Agricultural support: from the EU to beyond Brexit  6. Farm accounting  PART 2: VALUATIONS  7. Professional issues  8. Introduction to valuation standards and beyond bases of value  9. Undertaking a valuation  10. Valuation of farm property with vacant possession  11. Valuation of let property  12. Valuation for insurance  13. Woodland and sporting  14. Diversification  15. Development  16. Livestock, machinery, growing crops and produce  17. Environmental valuation  PART 3: VALUATIONS FOR TAXATION, COMPULSORY PURCHASE, UTILITIES AND COMMUNICATIONS  18. Valuation for capital taxes  19. Agricultural stocktaking for income tax  20. Valuation for business rates and council tax  21. Compensation for compulsory purchase  22. Cables and pipes for electricity, gas, water and sewerage  23. Masts and cables for communications  PART 4: AGRICULTURAL TENANCIES  24. Introduction to agricultural tenancies  25. Issues during a tenancy requiring valuation  26. Rent reviews under the Agricultural Holdings Act 1986  27. Rent reviews for farm business tenancies  28. Rent reviews for Scottish agricultural tenancies  29. End of tenancy: tenant’s claims  30. Compensation for disturbance  31. End of tenancy: landlord’s claims  32. Valuing the tenancy  33. Valuations for other agreements  PART 5: PROFESSIONAL PRACTICE  34. Farm agency  35. Dispute resolution and expert witness work  36. New skills and services  37. Advice to young practitioners  APPENDICES

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Jeremy Moody is Secretary and Adviser to the Central Association of Agricultural Valuers (CAAV), Vice Chairman of the European Valuation Standards Board (EVSB), an independent adviser and Visiting Professor of Rural Land Management and Policy at the RAU. Working on farm structures, land occupation and use, taxation and tenancy issues throughout the United Kingdom, he was closely involved with the Agricultural Tenancies Act 1995 and is a member of the Tenancy Reform Industry Group (TRIG). Involved with the practical operation of agricultural policy since the 1980s with milk quota, the MacSharry reforms, the Single and Basic Payment Schemes and now post-Brexit policies, he liaises with governments and others in all parts of the UK. With work on matters from natural capital and soils to planning policy and the UK’s recent Electronic Communications Code governing masts and cables, he has addressed conferences abroad from Portugal and Kosovo to Turkey and China.

Nick Millard began his professional career in a West Country market practice and joined Bruton Knowles in 1989 where he became Chairman of Partners in 2005. Having spent much of his career with the firm in estate management latterly he concentrated on strategic property advice for clients in the public and private sectors. He has combined his commercial career with academic work and currently lectures at the Royal Agricultural University and Henley Business School at the University of Reading and is a consultant to Michelmore Hughes Stags. He is a member and former chairman of the CAAV Valuation, Compensation and Taxation Committee and a former delegate to TEGoVA. He has been a member of the RICS Tax Policy Panel and a lecturer and Visiting Fellow at the University of Plymouth. He is currently a Visiting Research Fellow at the University of Exeter, where he has worked with the Centre for Rural Policy Research. He has contributed to research for Defra, the devolved administrations and government agencies on a variety of land tenure and rural economy issues. He is a past president of the CAAV.