The recent crisis made us realize once more: A value is an absolute figure which can turn out to be relative within a short time if it rests on an incorrect basis. As a matter of course, this is also true for audit and tax consultancy. Here valuations and their verification assume more and more importance – starting from company values to current values of assets and liabilities to business activity calculations in connection with legal and tax consultancy for companies and private persons.

Business valuation

The growing  importance of valuations has three important reasons:

• Growing demands resulting from commercial law and international accounting standards for valuations in connection with the preparation and audit of financial statements and consolidated financial statements
• More complex valuation methods due to a refined valuation methodology, changed rulings of civil courts and courts of finance and new tax laws (for example the inheritance tax act) – Assumptions and simplifications have to be substantiated more profoundly and examined for their effects on taxation
• Companies and private persons have higher expectations to the substantiation of tax structuring and the solution of legal questions (e.g. in connection with settlement clauses in articles of association or statutes)

Underrating the increasing demands on valuations entails risks of liability, additional tax burdens and other disadvantages. We support you in all aspects of performing business valuations and other business activity valuations to enable you to reveal chances and potential and to limit or minimize risks at the same time.

In-depth experience
We have prepared business valuations for many years now, we determine and verify the current values of assets and liabilities, in particular of investments; we also perform business activity analyses, in particular pre-investment analyses for companies of all legal forms.

Reliable and efficient
We perform these valuations in close connection with the preparation of financial statements and consolidated financial statements and with our tax, legal and management consulting. This helps to guarantee the reliability and efficiency of our work.

Reliable data sources
For the determination of cost of capital, trend calculations and comparisons of key economic performance figures we rely on data of the information service provider Bloomberg L.P.

Our specialisation: Real estate appraisal

The value of a real property is not written in stone but is subject to continuous change. The attractiveness of the location, the tenant structure, the structural state – there are numerous factors which influence the value of a property. If you have the intrinsic value of your real property verified at regular intervals, you can control the value of the property by responding to chances at an early stage.

Based on our audit, tax and legal services the name TRINAVIS has been closely connected with the real estate sector for more than 40 years. This supplements our professional expertise with a broad range of specialised knowledge for the real estate sector.

Our clients use their real property as active structuring options for accounting, insolvency tests, sale and acquisition, withdrawal of unit holders, restructuring or inheritance. Our services in this context include both in-depth appraisal reports and different, transparent appraisals.

Overview of our services

BUSINESS VALUATION

Determination and verification of company values

• Determination and verification of settlement claims due to provisions laid down in the Stock Corporation Act [Aktiengesetz – AktG] or of the Securities Trading Act [Wertpapiererwerbs- und Übernahmegesetz – WpÜG]
• Determination and verification of settlement asset or liability amounts in case of the withdrawal of shareholders from GmbHs and partnerships
• Determination and verification of company values in connection with the purchase and sale of companies of all legal forms
• Valuation of companies in accordance with applicable tax law, in particular in relation to inheritance tax

Determination of current values for assets and liabilities

• Valuation of investments in the context of preparing financial statements and consolidated financial statements according to German commercial law, IFRS or US GAAP
• Valuation of current values of other assets or liabilities in the above-mentioned statements, in particular of real property (in cooperation with our real estate department), accruals or deferred taxes

Other business activity valuations

• Valuations in connection with tax structuring
• Evaluation of investments, distribution alternatives, base shifting etc.
• Valuations as foundation of value-oriented business management

REAL ESTATE APPRAISAL

Market value appraisal reports and valuations

• On the basis of national standard methods (sales comparison approach, income approach and cost appraoch according to the German Real Estate Valuation Ordinance [Immobilienwertermittlungsverordnung - ImmoWertV])
• On the basis of national non-standardised methods (Discounted cashflow method, residual approach etc.)
• On the basis of international methods (International Valuation Standards IVS, European Valuation Standards EVS, Blue Book according to TEGOVA – The European Group of Valuers‘ Associations, Red Book according to RICS – Royal Institution of Chartered Surveyors, in particular for accounting – accounting standards according to IFRS/IAS)

Assessed valuations

• Preparation of assessed property value returns after new construction or conversion of buildings
• Verification of given assessed values for the purpose of real estate tax reduction, especially with regard to vacancy (negotiations with tax offices in the course of appeal proceedings)

Specialised valuations

• Valuations as at reporting dates in the past and future, rental values, lending values, development and redevelopment areas, etc.
• Valuations for tax purposes (inheritance and gift tax, real estate transfer tax)
• Purchase price allocations for the determination of pro-rata land building values

Summary valuations

• Cost-effective solutions concentrating on key economic performance figures for regular real property checks which bring about planning security for your assets and finance

Consulting

• In all aspects of real estate valuations
• Review of valuation reports and calculation bases, especially with regard to contributions for infrastructure development and road improvements as well as compensatory amounts
• Project evaluations for the erection of new buildings and conversions

Auditors, Tax Consultants, Lawyers - We focus on real estate

TRINAVIS is a medium-sized audit and tax consultancy firm with more than 200 qualified staff located in Berlin and Essen. Our auditors, tax consultants and lawyers provide one-stop solutions for accounting-related, tax and business law questions. Most of our clients are companies in the real estate sector. As a member of PrimeGlobal, a worldwide leading association of independent audit and tax consultancy firms, we have access to international expertise which is of benefit to our clients requiring cross-border solutions.