Brief History and Role
The Institute of Revenues Rating and Valuation (IRRV) is one of the oldest United Kingdom professional organisations concerned in the valuation of property and local government revenues and benefits with its origins going back to 1882. Its Membership includes valuers in the private and public sector involved in the assessment of land and buildings for the full range statutory purposes including national and local taxation, landlord and tenant asset valuation and compulsory acquisition.
The Institute plays a leading role in discussions with government on proposed legislative changes, publishes practice notes on valuation topics and co-operates in the formulation of national and international valuation best practice.
Principal Activities
Members' services. The IRRV offers a recognised specialist professional qualification. Members of the Institute have access to help and guidance through regularly updated text books training courses and research documents. The IRRV maintains a technical advice service and publications and case law reports are available for consultation. A monthly journal 'Insight' covers all aspects of the Institutes activities and a quarterly specialist magazine 'The Valuer' provides detailed articles and updates on valuation and associated issues.
Lobbying. The Institute plays a leading role in discussions with government on proposed legislative changes, and co-operates in the formulation of national and international valuation best practice.
Education. The Institute places great importance on the training of valuers and works with UK Government Agencies in developing training programmes. A learning package is being developed to provide a trans-European training programme that will meet the requirements of the 2nd EU Directive on Professional Qualifications
Principal Areas of Policy
In the Valuation area of the Institutes work the principal areas are:
* Specialist valuation advice and expertise in connection with valuation for local and national taxation.
* Co-operation in the establishment of valuation best practice and standards both in the UK and in Europe.
* Valuations for asset valuation, landlord and tenant and compulsory purchase compensation in connection with public works.
* The Institute is an Awarding Body for vocational qualifications. This role is approved by a Government appointed assessment authority.
Organisation
The association is governed by the General Council, which is a statutory body, with three dedicated Faculties each covering Revenue, Benefits and Valuation disciplines.
The council of the Institute is elected by the membership on a three yearly cycle.
The administration of the Institute is carried out by the employed staff led by the Chief Executive. The staff are organised into 3 units covering Education, Commercial activity and Administration.
Membership Includes
* Real Estate Valuation Surveyors
* Local Government Finance Experts
* Accountants
The IRRV is a professional body that seeks to further the interests of those involved in all aspects of property taxation and local authority revenues including qualified and trainee valuers who wish to specialise in the valuation of land and buildings for official purposes. The categories of membership available are Corporate, Technician, Student and Affiliate.
Publications
As indicated above the IRRV publishes a number of research reports, books and forms, as well as producing regular updates for its members. The Institute also has an interactive website (www.irrv.org.uk) which can be accessed by members of the Institute and non members.
