Revaluation of HRA and Non-HRA Assets

Tender description

The annual statement of accounts for the London Borough of Hounslow must be prepared in accordance with CIPFA’s Code of Practice on Local Authority Accounting in the United Kingdom. This requires council dwellings to be valued using the Existing Use Value – Social Housing (EUV–SH) basis. The Housing Revenue Account (Accounting Practices) Direction 2011 requires authorities to use specific bases and methods of valuation set out in the Stock Valuation for Resource Accounting: Guidance for Valuers – 2010 published by the Department for Communities and Local Government in January 2011. The London Borough of Hounslow requires the valuer to review the current methodology and to sign off the workings as appropriate. The methodology will be followed by internal London Borough of Hounslow staff.