07 July 202209:00 - 11:00 BST
08 July 202209:00 - 11:00 BST
We are delighted to introduce ICAEW's first Construction and Real Estate Fundamentals. Short virtual courses split over two mornings will provide an introduction to issues arising from property transactions, aimed at those new to the sector, needing a refresher or with an interest in moving into construction and real estate.
Our expert speakers from accountancy, surveying and the law will introduce the topic, demystify concepts and provide a solid grounding through explaining the fundamentals of construction and real estate – all without leaving the office. Please view the programme tab for a full breakdown, Day one will cover investment and day two will focus on trading.
Should you experience any difficulties booking onto the event, please go to our events support page - how to book.
The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
Day 1 - Investment
Introduction - Ros Rowe, Chair
Market assessment and overview of the role of surveyors - Jonathan Fothergill, RICS
Overview of Investment structures and regulation - Stacy Eden, RSM
Case Study 1 - Acquisition of an investment asset - Jonathan Fothergill, RICS and Stacy Eden, RSM
A UK property investment company buys the freehold of a build to rent property for £27m.The building is fully let and has a mixture of shops and offices. The case study will look at the issues arising and pitfalls to avoid.
Day 2 - Trading
Understanding the project - Michelle Beaumont, Irwin Mitchell; Jonathan More, Irwin Mitchell
Effective reporting and structuring - Riaz Farooqi and Louise Cowell, RSM
Case Study 2 – Construction and sale of housing - Riaz Farooqi and Louise Cowell of RSM and Michelle Beaumont, and Jonathan More of Irwin Mitchell
Buildco, a UK Ltd company has purchased land for £5m.Infrastructure costs of £10m for the services, roads and utilities have been incurred. The company plans to build 50 houses. At the end of year 1, 8 houses have been sold, offers on 3 and 15 have been started. Our speakers will look at:
*Please note that the programme is subject to change
Ros Rowe, Subject Matter Expert, ICAEW Construction & Real Estate CommunityRos is a Chartered Accountant and a Non-Executive Director of a housing association. Formerly a Tax Partner at PwC, she has advised construction companies on complex projects including regeneration (King’s Cross and London’s Docklands); PPP/PFI joint ventures for student accommodation and mixed-use developments. As an adviser to many Real Estate Investment Trusts, she worked closely with the government to increase the supply of housing for rent together with initiating a framework of tax incentives to regenerate brownfield sites.
Jonathan Fothergill, Senior Specialist, Valuation and Investment Advisory, Royal Institution of Chartered SurveyorsJonathan is currently working within the valuation team of the Royal Institution of Chartered Surveyors. He is a Fellow Member of the RICS, an Associate Member of the Royal Institute of Chartered Arbitrators and is currently in the process of qualifying as a RICS accredited expert witness, and has over 25 years of general practice surveying experience gained predominantly in the areas of investment brokerage, commercial valuation and development consultancy.
He has had a global career to date working in previous roles as Director of Investment for Knight Frank based in their Prague office and also as Director of UAE Valuations for Cluttons Middle East based in Dubai. Highlights of his career to date include: disposing of the Czech state telecom providers’ real estate assets during privatisation, advising the Qatar World Cup 2022 Supreme Committee on the development of the World Cup National Stadium site, and valuing the artificial islands project, ‘The World Islands’ off the coast of Dubai.
In his current role with RICS, Jonathan has recently co-ordinated a working group comprising of accountants and valuers in providing guidance to the UK valuation community on applying IFRS 16 principles. He also oversees a specialist working group concerned with providing guidance in respect of Existing Use Value as a basis for valuation in UK public sector accounting. In addition, he is also currently involved in assisting in providing updates on the RICS Global Valuation Standards (the so called Red Book), together with actioning various action points for the valuation profession arising out of the recent independent review of investment valuations.
Jonathan More, Partner, Construction and Engineering, Irwin Mitchell LLPJonathan is based from Irwin Mitchell’s London office and specialises in advising on dispute resolution and avoidance in the construction and engineering sector. This ranges from major infrastructure projects through to residential property disputes.
His role includes advising on all types of formal dispute resolution, in particular adjudication, arbitration and court. He also actively encourages Alternative Dispute Resolution (ADR) by negotiated strategic settlement, mediation, joint expert appointments and early case assessment. His experience ranges from private client residential disputes through to multi-million pound/USD heavyweight infrastructure disputes. These disputes concern different types of contracts, including: JCT, NEC and FIDIC.
Michelle Beaumont, Partner, Irwin MitchellMichelle is a partner in Irwin Mitchell’s real estate team in Leeds. She advises on a broad range of high value commercial property transactions, including acquisitions, disposals, forward purchases, development agreements and conditional contracts. Michelle has particular experience with the higher education, retail and hospitality sectors, acting for investors, retailers, operators and owners.
Stacy Eden, Partner, RSMStacy is an experienced Real estate audit partner and Head of real estate and construction at RSM. His real estate and construction clients include UK and International listed groups and large private companies
Stacy is well-known in the industry, having spoken at numerous real estate events and seminars, as well as regularly featuring in articles in the trade press. Stacy is a member of a number of key industry committees including the British Property Federation’s Technical Accounting Group, and he co-chairs the Variety Props lunch committee, which recently raised £350,000 for the Variety Children’s charity.
Riaz Farooqi, Corporation Tax Associate Director, RSMRiaz is a Corporation Tax Associate Director and a lead member of RSM’s UK tax real estate practice, as well being a member of the RSM Real Estate Europe team. He has extensive experience of working with UK and international real estate clients, proving Riaz provides UK and cross border tax advice to a variety of real estate clients, including large UK and overseas groups, funds, family owned businesses and entrepreneurs. Riaz advises on a number of matters such as tax structuring, M&A support, refinancing, changes in tax laws as well as ad hoc complex issues.
Louise Cowell, Indirect Tax Associate Director, RSMLouise is a CTA qualified Associate Director in RSM’s VAT practice with over 11 years’ experience. She has a particular interest in the Real Estate and Construction sectors having spent much of her career, both at RSM and prior to that during her time at Deloitte, working with clients in the sector and on land and property related queries for clients outside the sector.Her clients include housebuilders, developers, investors, owner occupiers and construction businesses. She also supports RSM's restructuring team on all areas of VAT, including the disposal of assets, exploring opportunities for claiming bad debt relief and advising on complex issues like partial exemption and the capital goods scheme. Louise is also a member of the British Property Federation’s VAT committee.
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