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The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003

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Regulation 1(5)

[F1SCHEDULEE+WCalculation of the sub-liability

Textual Amendments

1.—(1) This Schedule applies to capital receipts derived from dwellings disposed of by the local authority on or after 1st April 2012—E+W

(a)under Part V of the Housing Act 1985;

(b)to a secure tenant for an amount that is less than the market value of the dwelling; or

(c)by a grant of a shared ownership lease to a tenant of the local authority where—

(i)a premium (which is a portion of the market value of the disposed dwelling) was paid and that portion exceeded 50% of the market value of the disposed dwelling; or

(ii)within 2 years of the grant of the shared ownership lease, a premium is paid to acquire a further portion of the disposed dwelling so that the total portion of the market value of the disposed dwelling owned by the tenant is more than 50%.

(2) This Schedule does not apply to capital receipts derived from the disposal of dwellings that are the subject of an agreement made under section 80B of the Local Government and Housing Act 1989.

2.  In this Schedule—E+W

“available buy back allowance” is an amount calculated in accordance with paragraph 3(2);

[F2“assumed debt” is an amount calculated in accordance with paragraph 4A;]

“attributable debt” means the amount of debt associated with a dwelling subject to the duty under section 74 of the Local Government and Housing Act 1989 (duty to keep a housing revenue account) set out in “the table of debt associated with HRA properties” dated 31st March 2013 which is published on the website of GOV.UK and deposited at the Department’s principal office;

“buy back allowance” is an amount calculated in accordance with paragraph 3;

[F3“local authority share cap” is an amount calculated in accordance with paragraph 4B;]

“London authorities” means—

(i)

a London borough council; and

(ii)

the Common Council of the City of London;

[F4“pooling period” means one of the following periods—

(a)

a quarter beginning before 1st April 2021;

(b)

a financial year beginning on or after 1st April 2021;]

[F4“pooling period 1” means the period from 1st April 2012 to 30th June 2012;]

[F5“previous financial year” means the financial year before the relevant financial year;]

[F4“quarter” means one of the following periods—

(a)

1st April to 30th June;

(b)

1st July to 30th September;

(c)

1st October to 31st December;

(d)

1st January to 31st March;]

F6...

[F4“relevant financial year” means, in relation to the calculation of the sub-liability, the financial year to which the calculation relates;]

F7...

“transaction cost” means in relation to—

(i)

London authorities, £2850:

(ii)

local authorities that are not London authorities, £1300.

Textual Amendments

3.—(1) The buy back allowance for the [F8relevant financial year] means 50% of the relevant costs of buying back a relevant interest in the [F8relevant financial year] where—E+W

(a)“relevant costs” means the expenditure incurred by the authority in the [F8relevant financial year] including administrative and incidental costs; and

(b)“relevant interest” means a freehold or leasehold interest in a dwelling—

(i)that has previously been disposed of by the authority, another authority, a new town corporation, a housing action trust or an urban development corporation;

(ii)that was not acquired pursuant to a compulsory purchase order; and

(iii)was not acquired from a body of persons corporate or unincorporate.

(2) The available buy back allowance in respect of a [F8relevant financial year] is calculated as follows—F8F9

.

Textual Amendments

F8Sch. para. 3: the words "relevant financial year" substituted for "relevant quarter" (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(3)(a) (with reg. 7(3)) [Editorial note: For technical reasons the editorial team has been unable to carry out this substitution where the relevant words occur in formulas contained in image files.]

F9Sch. para. 3(2): the words "previous financial year" substituted for "previous quarter" (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(3)(b) (with reg. 7(3)) [Editorial note: For technical reasons the editorial team has been unable to carry out this substitution where the relevant words occur in formulas contained in image files.]

4.  In this Schedule—E+W

A means the total receipts received from the disposal of dwellings in the [F10relevant financial year];

A* means the value of A in the [F11previous financial year];

B means the total of the attributable debt associated with the dwellings disposed of from 1st April 2012 to the last day of the [F10relevant financial year];

C means the total of the assumed debt for [F12each pooling period] from [F13pooling period 1] to the [F10relevant financial year];

D means the local authority share cap for the [F10relevant financial year];

E means the total transaction cost calculated in accordance with paragraph 5;

E* means the total transaction cost for the [F11previous financial year];

[F14F has the meaning set out in paragraph 11, except for the [F15pooling periods] during the period 1 April 2012 to 31 March 2013 where the value of F shall be the amount calculated as F on the due date for each of those [F15pooling periods].]

F* means the value of F for the [F11previous financial year];

F** means the total of the value of F for [F16each pooling period] from [F17pooling period 1] to the [F11previous financial year];

F*** has the meaning set out in paragraph 6;

G has the meaning set out in paragraph 8;

G*means the value for G in the [F11previous financial year];

H means the transaction cost;

I means the number of disposals of dwellings during the [F10relevant financial year];

J means deductible buy back allowance for the [F10relevant financial year] and is calculated in accordance with paragraph 12;

J* means the value of J for the [F11previous financial year];

K means the sub-liability for the [F10relevant financial year] and is calculated in accordance with paragraph 13;

K* means the value of K for the [F11previous financial year];

L is calculated in accordance with paragraph 10;

L* means the value of L for the [F11previous financial year];

L** has the meaning set out in [F18paragraph 9(1);]

M has the meaning set out in paragraph 7 [F19; and]

[F20N* means the assumed debt for the previous financial year;]

[F20O* means the local authority share cap for the previous financial year;]

[F21P has the meanings set out in paragraph 9(2) and (4);]

[F20P* means the value of P for the previous financial year.]

Textual Amendments

[F224A.  [F23Subject to paragraph 4C,] the assumed debt is—

(a)in the financial year beginning on 1st April 2021, the amount of debt assumed to be associated with a local authority in that year as set out in Table A in this Schedule; and

(b)in each subsequent financial year—

]

Textual Amendments

[F224B.  [F24Subject to paragraph 4D,] the local authority share cap is—

(a)in the financial year beginning on 1st April 2021, the amount attributable to an authority set out in Table B in this Schedule; and

(b)in each subsequent financial year—

.]

Textual Amendments

[F254C—(1) This paragraph applies to North Yorkshire Council, Somerset Council and Westmorland and Furness Council.E+W

(2) The assumed debt is—

(a)in the financial year beginning on 1st April 2023, the amount of debt assumed to be associated with a local authority in that year as set out in Table AA in this Schedule; and

(b)in each subsequent financial year —N* × 1.01.

(3) The local authority share cap is—

(a)in the financial year beginning on 1st April 2023, the amount attributable to an authority set out in Table BB in this Schedule; and

(b)in each subsequent financial year—O* × 1.01.]

Textual Amendments

5.  E (the total transaction cost) means—E+W

HxI

.

6.  F*** means—E+W

B-C

except where is less than zero, F*** means—

.

7.  M means E+W

8.  G means—E+W

F26(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)F27...

.

Textual Amendments

[F289.—(1) L** means—E+W

(2) [F29Subject to sub-paragraph (3),] P means—

(a)in the financial year beginning on 1st April 2021, 77,988,112.73;

(b)in each subsequent financial year—

[F30(3) In the case of North Yorkshire Council, Somerset Council and Westmorland and Furness Council, P means—

(a)in the financial year beginning on 1st April 2023, 79,555,673.79;

(b)in each subsequent financial year—P* × 1.01.]

.]

Textual Amendments

10.  L means—E+W

F31(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)F32...

.

Textual Amendments

11.  F means—E+W

except where is greater than , F means—

.

12.  J means an amount of the available buy back allowance that does not exceed—E+W

except where is less than zero, J means zero.

13.  K means—E+W

except where is less than zero, K means—

.]

[F33Table A – Assumed debt for each quarter in a year

AuthorityFinancial year 2021-22 (£)
Adur121,501.92
Arun154,866.00
Ashfield223,586.81
Ashford226,722.39
Babergh183,694.98
Barking and Dagenham437,460.99
Barnet406,060.42
Barnsley920,875.76
F34. . .F34. . .
Basildon445,232.82
Bassetlaw295,007.26
Birmingham3,177,505.20
Blackpool218,231.83
Bolsover321,921.94
Bournemouth Christchurch and Poole280,828.78
Brent326,902.80
Brentwood133,393.70
Brighton & Hove295,270.41
Bristol465,342.02
Broxtowe231,776.69
Bury816,843.05
Cambridge443,177.32
Camden787,065.94
Cannock Chase261,853.19
Canterbury213,673.00
Castle Point73,949.58
Central Bedfordshire312,731.01
Charnwood244,915.27
Cheltenham95,303.52
Cheshire West and Chester640,495.66
Chesterfield433,463.76
City of London37,679.87
City of York446,134.60
Colchester276,328.10
Cornwall228,279.83
Crawley500,994.25
Croydon493,371.27
Dacorum697,462.93
Darlington264,974.47
Dartford164,937.47
Derby661,899.62
Doncaster837,251.17
Dover172,164.15
Dudley1,293,022.83
Ealing339,902.21
East Devon156,993.07
East Riding700,597.96
East Suffolk171,928.90
Eastbourne83,791.70
Enfield319,155.58
Epping Forest365,205.77
Exeter102,772.22
Fareham108,512.40
Folkestone and Hythe116,558.79
Gateshead1,358,442.25
Gosport109,552.45
Gravesham222,830.17
Great Yarmouth177,431.34
Greenwich489,596.44
Guildford371,600.55
Hackney238,601.47
Hammersmith and Fulham389,597.53
Haringey492,679.19
Harlow421,248.80
F35. . .F35. . .
Harrow209,583.78
Havering318,422.68
High Peak190,099.89
Hillingdon446,945.81
Hinckley and Bosworth200,221.60
Hounslow397,517.95
Ipswich285,544.27
Islington740,259.63
Kensington and Chelsea333,813.49
Kingston upon Hull988,413.41
Kingston upon Thames224,335.94
Kirklees763,213.87
Lambeth622,385.34
Lancaster361,077.12
Leeds2,232,621.80
Leicester603,374.30
Lewes138,336.33
Lewisham202,345.86
Lincoln184,690.60
Luton258,421.48
Manchester962,910.28
Mansfield265,824.60
Medway Towns87,036.36
Melton93,497.31
Mid Devon96,747.13
Mid Suffolk156,340.12
Milton Keynes491,774.91
New Forest294,767.63
Newark and Sherwood307,475.13
Newcastle upon Tyne1,454,616.23
Newham377,991.90
North East Derbyshire496,343.87
North Kesteven216,480.80
North Northamptonshire422,261.02
North Tyneside1,071,143.29
North Warwickshire188,579.70
North West Leicestershire251,520.81
Northumberland416,855.05
Norwich470,484.81
Nottingham924,230.54
Nuneaton268,249.85
Oadby & Wigston60,711.45
Oldham-3,107.63
Oxford City442,269.24
Portsmouth343,180.46
Reading400,823.58
Redbridge150,455.65
Redditch296,808.31
F36. . .F36. . .
Rotherham1,020,513.09
Rugby249,810.92
Runnymede196,165.06
Salford56,817.91
Sandwell1,504,657.58
F37. . .F37. . .
F38. . .F38. . .
Sheffield1,207,881.23
Shropshire274,963.07
Slough340,266.55
Solihull547,623.09
F39. . .F39. . .
South Cambridgeshire407,718.64
South Derbyshire186,144.15
South Holland208,059.98
South Kesteven376,252.60
South Tyneside1,125,930.45
Southampton375,193.06
Southend-on-Sea200,002.51
Southwark891,989.48
St Albans375,638.28
Stevenage428,687.55
Stockport883,258.96
Stoke-on-Trent550,670.65
Stroud175,802.47
Sutton268,536.85
Swindon306,768.45
Tamworth236,922.62
Tandridge137,672.93
Tendring118,827.28
Thanet52,208.15
Thurrock368,682.80
Tower Hamlets278,674.37
Uttlesford178,281.22
Waltham Forest288,537.06
Wandsworth812,153.97
Warwick449,176.82
Waverley368,222.67
Wealden122,106.72
Welwyn Hatfield601,654.37
West Lancashire561,957.76
West Northamptonshire580,800.18
Westminster493,992.90
Wigan2,131,858.94
Wiltshire220,606.38
Winchester315,490.53
Woking193,706.96
Wokingham199,206.04
Wolverhampton1,065,452.06]

Textual Amendments

[F40Table AA

AuthorityFinancial year 2023-24 (£)
North Yorkshire553,283.65
Somerset326,762.96
Westmorland and Furness220,885.97]

Textual Amendments

[F41Table B – Local authority share cap for each quarter in a year

AuthorityFinancial year 2021-22 (£)
Adur128,167.99
Arun132,079.04
Ashfield236,715.31
Ashford206,977.25
Babergh139,126.13
Barking and Dagenham553,630.35
Barnet745,590.60
Barnsley709,950.38
F42. . .F42. . .
Basildon439,046.76
Bassetlaw236,713.97
Birmingham2,648,001.97
Blackpool357,932.42
Bolsover193,051.82
Bournemouth Christchurch and Poole389,450.36
Brent556,793.45
Brentwood160,784.57
Brighton & Hove525,932.88
Bristol900,023.15
Broxtowe177,698.91
Bury601,079.44
Cambridge483,252.66
Camden2,019,791.79
Cannock Chase222,897.46
Canterbury229,893.28
Castle Point64,288.70
Central Bedfordshire218,359.10
Charnwood280,621.01
Cheltenham168,330.18
Cheshire West and Chester502,868.20
Chesterfield394,178.19
City of London149,589.89
City of York502,564.36
Colchester215,950.48
Cornwall464,689.29
Crawley439,568.51
Croydon857,823.71
Dacorum664,427.59
Darlington267,618.46
Dartford172,657.05
Derby528,146.66
Doncaster853,986.53
Dover125,259.63
Dudley978,990.73
Ealing647,909.92
East Devon184,141.73
East Riding558,986.84
East Suffolk135,518.30
Eastbourne119,862.20
Enfield581,668.68
Epping Forest357,685.51
Exeter180,883.14
Fareham83,354.09
Folkestone and Hythe93,482.51
Gateshead1,177,667.44
Gosport118,434.75
Gravesham222,692.39
Great Yarmouth155,673.04
Greenwich988,867.61
Guildford294,818.67
Hackney1,386,199.19
Hammersmith and Fulham898,753.34
Haringey736,148.55
Harlow423,113.61
F43. . .F43. . .
Harrow330,166.53
Havering463,375.67
High Peak166,253.15
Hillingdon498,778.37
Hinckley and Bosworth177,066.65
Hounslow839,043.23
Ipswich240,161.65
Islington1,611,323.41
Kensington and Chelsea494,889.65
Kingston upon Hull664,969.75
Kingston upon Thames293,883.31
Kirklees858,005.92
Lambeth1,422,189.56
Lancaster304,854.29
Leeds2,450,179.39
Leicester725,562.12
Lewes172,309.32
Lewisham820,611.82
Lincoln225,591.59
Luton277,413.42
Manchester1,088,197.60
Mansfield202,070.09
Medway Towns112,486.65
Melton64,462.05
Mid Devon98,501.90
Mid Suffolk134,278.55
Milton Keynes355,448.22
New Forest244,575.80
Newark and Sherwood188,791.27
Newcastle upon Tyne1,102,721.41
Newham756,445.92
North East Derbyshire274,422.35
North Kesteven170,629.47
North Northamptonshire325,764.92
North Tyneside798,533.64
North Warwickshire136,847.90
North West Leicestershire252,939.42
Northumberland594,384.95
Norwich467,525.99
Nottingham887,966.30
Nuneaton249,063.00
Oadby & Wigston65,141.12
Oldham119,477.82
Oxford City656,422.01
Portsmouth395,246.44
Reading385,564.44
Redbridge247,590.32
Redditch330,810.31
F44. . .F44. . .
Rotherham812,153.49
Rugby209,978.15
Runnymede185,563.65
Salford87,250.52
Sandwell1,149,500.98
F45. . .F45. . .
F46. . .F46. . .
Sheffield1,423,534.79
Shropshire248,747.82
Slough351,607.38
Solihull599,562.14
F47. . .F47. . .
South Cambridgeshire202,190.86
South Derbyshire132,792.19
South Holland183,226.03
South Kesteven341,076.00
South Tyneside863,711.96
Southampton494,472.86
Southend-on-Sea235,373.93
Southwark1,816,559.92
St Albans398,068.64
Stevenage367,885.88
Stockport917,765.35
Stoke-on-Trent562,413.38
Stroud196,450.29
Sutton307,995.25
Swindon309,416.61
Tamworth178,165.09
Tandridge159,330.12
Tendring130,994.81
Thanet83,576.03
Thurrock439,693.01
Tower Hamlets740,233.45
Uttlesford181,362.89
Waltham Forest558,187.18
Wandsworth1,097,179.82
Warwick409,529.79
Waverley323,488.62
Wealden142,467.71
Welwyn Hatfield574,039.94
West Lancashire345,820.52
West Northamptonshire457,055.32
Westminster1,241,590.14
Wigan1,603,927.75
Wiltshire286,863.65
Winchester325,208.77
Woking228,339.41
Wokingham124,528.22
Wolverhampton919,699.30]

Textual Amendments

[F48Table BB

AuthorityFinancial year 2023-24 (£)
North Yorkshire658,195.63
Somerset285,289.81
Westmorland and Furness184,982.56]

Textual Amendments

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