Form LP1 Valuation of Licensed Premises

Jul 13, 2018

It has been brought to our attention this week that the Valuation Office have issued  form LP1 Valuation of Licensed Premises to a large number of licensed premises owners as part of a national revaluation programme of commercial and industrial properties in Ireland for rates purposes.   

The form requests certain figures to be extracted from the books and records of the licence holder and for an accountant to sign the form in addition to providing their professional membership details. 

This form requests the signature of an accountant in a form that is not acceptable to professional accountants as it includes a requirement to “certify that the information provided is true and accurate in relation to the above subject property”

As members are aware we consider that this is wording which accountants would not normally be in a position to use as it implies complete accuracy and absolute certainty.

We advise our members not to sign the form but to send it with a covering letter confirming that the numbers have been extracted from the books and records of the licence holder.