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

Regulation 1(5)

[F1 SCHEDULE E+W Calculation of the sub-liability

Textual Amendments

F1 Sch. substituted (1.4.2013) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2013 (S.I. 2013/476), regs. 1(3), 4, Sch. (with reg. 7)

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

F2 Words in Sch. para. 2 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(2)(a) (with reg. 7(3)(4)(6)(7))

F3 Words in Sch. para. 2 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(2)(b) (with reg. 7(3)(5)(7))

F4 Words in Sch. para. 2 inserted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(2)(f) (with reg. 7(3))

F5 Words in Sch. para. 2 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(2)(c) (with reg. 7(3))

F6 Words in Sch. para. 2 omitted (30.6.2021) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(2)(d) (with reg. 7(3))

F7 Words in Sch. para. 2 omitted (30.6.2021) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(2)(e) (with reg. 7(3))

3.— (1) The buy back allowance for the [F8 relevant financial year] means 50% of the relevant costs of buying back a relevant interest in the [F8 relevant financial year] where— E+W

(a) “relevant costs” means the expenditure incurred by the authority in the [F8 relevant 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 [F8 relevant financial year] is calculated as follows—F8 F9

.

Textual Amendments

F8 Sch. 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.]

F9 Sch. 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 [F10 relevant financial year];

A* means the value of A in the [F11 previous 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 [F10 relevant financial year];

C means the total of the assumed debt for [F12 each pooling period] from [F13 pooling period 1] to the [F10 relevant financial year];

D means the local authority share cap for the [F10 relevant financial year];

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

E* means the total transaction cost for the [F11 previous financial year];

[F14 F has the meaning set out in paragraph 11, except for the [F15 pooling 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 [F15 pooling periods].]

F* means the value of F for the [F11 previous financial year];

F** means the total of the value of F for [F16 each pooling period] from [F17 pooling period 1] to the [F11 previous 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 [F11 previous financial year];

H means the transaction cost;

I means the number of disposals of dwellings during the [F10 relevant financial year];

J means deductible buy back allowance for the [F10 relevant financial year] and is calculated in accordance with paragraph 12;

J* means the value of J for the [F11 previous financial year];

K means the sub-liability for the [F10 relevant financial year] and is calculated in accordance with paragraph 13;

K* means the value of K for the [F11 previous financial year];

L is calculated in accordance with paragraph 10;

L* means the value of L for the [F11 previous financial year];

L** has the meaning set out in [F18 paragraph 9(1);]

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

[F20 N* means the assumed debt for the previous financial year;]

[F20 O* means the local authority share cap for the previous financial year;]

[F20 P has the meaning set out in paragraph 9(2);]

[F20 P* means the value of P for the previous financial year.]

Textual Amendments

F10 Words in Sch. para. 4 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(a) (with reg. 7(3))

F11 Words in Sch. para. 4 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(b) (with reg. 7(3))

F12 Words in Sch. para. 4 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(c)(i) (with reg. 7(3))

F13 Words in Sch. para. 4 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(c)(ii) (with reg. 7(3))

F14 Words in Sch. substituted (13.8.2013) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) (No.2) Regulations 2013 (S.I. 2013/1751), regs. 1(2), 4

F15 Words in Sch. para. 4 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(d) (with reg. 7(3))

F16 Words in Sch. para. 4 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(e)(i) (with reg. 7(3))

F17 Words in Sch. para. 4 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(e)(ii) (with reg. 7(3))

F18 Words in Sch. para. 4 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(f) (with reg. 7(3))

F19 Word in Sch. para. 4 inserted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(g) (with reg. 7(3))

F20 Words in Sch. para. 4 inserted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(4)(h) (with reg. 7(3))

[F21 4A.   The assumed debt is— E+W

(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

F21 Sch. paras. 4A, 4B inserted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(5) (with reg. 7(3))

[F21 4B.   The local authority share cap is— E+W

(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

F21 Sch. paras. 4A, 4B inserted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(5) (with reg. 7(3))

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

.

6.   F*** means— E+W

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

.

7.   M means E+W

8.   G means— E+W

F22 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) F23 ...

.

Textual Amendments

F22 Sch. para. 8(a) omitted (30.6.2021) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(6)(a) (with reg. 7(3))

F23 Words in Sch. para. 8(b) omitted (30.6.2021) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(6)(b) (with reg. 7(3))

[F24 9.— (1) L** means— E+W

(2) P means—

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

(b) in each subsequent financial year—

.]

Textual Amendments

F24 Sch. para. 9 substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(7) (with reg. 7(3))

10.   L means— E+W

F25 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) F26 ...

.

Textual Amendments

F25 Sch. para. 10(a) omitted (30.6.2021) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(8)(a) (with reg. 7(3))

F26 Words in Sch. para. 10(b) omitted (30.6.2021) by virtue of The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), regs. 1(2), 6(8)(b) (with reg. 7(3))

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—

.]

[F27 Table A – Assumed debt for each quarter in a year

Authority	Financial year 2021-22 (£)
Adur	121,501.92
Arun	154,866.00
Ashfield	223,586.81
Ashford	226,722.39
Babergh	183,694.98
Barking and Dagenham	437,460.99
Barnet	406,060.42
Barnsley	920,875.76
Barrow	216,533.64
Basildon	445,232.82
Bassetlaw	295,007.26
Birmingham	3,177,505.20
Blackpool	218,231.83
Bolsover	321,921.94
Bournemouth Christchurch and Poole	280,828.78
Brent	326,902.80
Brentwood	133,393.70
Brighton & Hove	295,270.41
Bristol	465,342.02
Broxtowe	231,776.69
Bury	816,843.05
Cambridge	443,177.32
Camden	787,065.94
Cannock Chase	261,853.19
Canterbury	213,673.00
Castle Point	73,949.58
Central Bedfordshire	312,731.01
Charnwood	244,915.27
Cheltenham	95,303.52
Cheshire West and Chester	640,495.66
Chesterfield	433,463.76
City of London	37,679.87
City of York	446,134.60
Colchester	276,328.10
Cornwall	228,279.83
Crawley	500,994.25
Croydon	493,371.27
Dacorum	697,462.93
Darlington	264,974.47
Dartford	164,937.47
Derby	661,899.62
Doncaster	837,251.17
Dover	172,164.15
Dudley	1,293,022.83
Ealing	339,902.21
East Devon	156,993.07
East Riding	700,597.96
East Suffolk	171,928.90
Eastbourne	83,791.70
Enfield	319,155.58
Epping Forest	365,205.77
Exeter	102,772.22
Fareham	108,512.40
Folkestone and Hythe	116,558.79
Gateshead	1,358,442.25
Gosport	109,552.45
Gravesham	222,830.17
Great Yarmouth	177,431.34
Greenwich	489,596.44
Guildford	371,600.55
Hackney	238,601.47
Hammersmith and Fulham	389,597.53
Haringey	492,679.19
Harlow	421,248.80
Harrogate	259,766.29
Harrow	209,583.78
Havering	318,422.68
High Peak	190,099.89
Hillingdon	446,945.81
Hinckley and Bosworth	200,221.60
Hounslow	397,517.95
Ipswich	285,544.27
Islington	740,259.63
Kensington and Chelsea	333,813.49
Kingston upon Hull	988,413.41
Kingston upon Thames	224,335.94
Kirklees	763,213.87
Lambeth	622,385.34
Lancaster	361,077.12
Leeds	2,232,621.80
Leicester	603,374.30
Lewes	138,336.33
Lewisham	202,345.86
Lincoln	184,690.60
Luton	258,421.48
Manchester	962,910.28
Mansfield	265,824.60
Medway Towns	87,036.36
Melton	93,497.31
Mid Devon	96,747.13
Mid Suffolk	156,340.12
Milton Keynes	491,774.91
New Forest	294,767.63
Newark and Sherwood	307,475.13
Newcastle upon Tyne	1,454,616.23
Newham	377,991.90
North East Derbyshire	496,343.87
North Kesteven	216,480.80
North Northamptonshire	422,261.02
North Tyneside	1,071,143.29
North Warwickshire	188,579.70
North West Leicestershire	251,520.81
Northumberland	416,855.05
Norwich	470,484.81
Nottingham	924,230.54
Nuneaton	268,249.85
Oadby & Wigston	60,711.45
Oldham	-3,107.63
Oxford City	442,269.24
Portsmouth	343,180.46
Reading	400,823.58
Redbridge	150,455.65
Redditch	296,808.31
Richmondshire	87,786.58
Rotherham	1,020,513.09
Rugby	249,810.92
Runnymede	196,165.06
Salford	56,817.91
Sandwell	1,504,657.58
Sedgemoor	110,662.16
Selby	194,828.91
Sheffield	1,207,881.23
Shropshire	274,963.07
Slough	340,266.55
Solihull	547,623.09
Somerset West and Taunton	209,662.28
South Cambridgeshire	407,718.64
South Derbyshire	186,144.15
South Holland	208,059.98
South Kesteven	376,252.60
South Tyneside	1,125,930.45
Southampton	375,193.06
Southend-on-Sea	200,002.51
Southwark	891,989.48
St Albans	375,638.28
Stevenage	428,687.55
Stockport	883,258.96
Stoke-on-Trent	550,670.65
Stroud	175,802.47
Sutton	268,536.85
Swindon	306,768.45
Tamworth	236,922.62
Tandridge	137,672.93
Tendring	118,827.28
Thanet	52,208.15
Thurrock	368,682.80
Tower Hamlets	278,674.37
Uttlesford	178,281.22
Waltham Forest	288,537.06
Wandsworth	812,153.97
Warwick	449,176.82
Waverley	368,222.67
Wealden	122,106.72
Welwyn Hatfield	601,654.37
West Lancashire	561,957.76
West Northamptonshire	580,800.18
Westminster	493,992.90
Wigan	2,131,858.94
Wiltshire	220,606.38
Winchester	315,490.53
Woking	193,706.96
Wokingham	199,206.04
Wolverhampton	1,065,452.06]

Textual Amendments

F27 Sch. Table A substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), reg. 1(2), Sch. 1 (with reg. 7(3)(4)(6)(7))

[F28 Table B – Local authority share cap for each quarter in a year

Authority	Financial year 2021-22 (£)
Adur	128,167.99
Arun	132,079.04
Ashfield	236,715.31
Ashford	206,977.25
Babergh	139,126.13
Barking and Dagenham	553,630.35
Barnet	745,590.60
Barnsley	709,950.38
Barrow	181,337.67
Basildon	439,046.76
Bassetlaw	236,713.97
Birmingham	2,648,001.97
Blackpool	357,932.42
Bolsover	193,051.82
Bournemouth Christchurch and Poole	389,450.36
Brent	556,793.45
Brentwood	160,784.57
Brighton & Hove	525,932.88
Bristol	900,023.15
Broxtowe	177,698.91
Bury	601,079.44
Cambridge	483,252.66
Camden	2,019,791.79
Cannock Chase	222,897.46
Canterbury	229,893.28
Castle Point	64,288.70
Central Bedfordshire	218,359.10
Charnwood	280,621.01
Cheltenham	168,330.18
Cheshire West and Chester	502,868.20
Chesterfield	394,178.19
City of London	149,589.89
City of York	502,564.36
Colchester	215,950.48
Cornwall	464,689.29
Crawley	439,568.51
Croydon	857,823.71
Dacorum	664,427.59
Darlington	267,618.46
Dartford	172,657.05
Derby	528,146.66
Doncaster	853,986.53
Dover	125,259.63
Dudley	978,990.73
Ealing	647,909.92
East Devon	184,141.73
East Riding	558,986.84
East Suffolk	135,518.30
Eastbourne	119,862.20
Enfield	581,668.68
Epping Forest	357,685.51
Exeter	180,883.14
Fareham	83,354.09
Folkestone and Hythe	93,482.51
Gateshead	1,177,667.44
Gosport	118,434.75
Gravesham	222,692.39
Great Yarmouth	155,673.04
Greenwich	988,867.61
Guildford	294,818.67
Hackney	1,386,199.19
Hammersmith and Fulham	898,753.34
Haringey	736,148.55
Harlow	423,113.61
Harrogate	337,596.77
Harrow	330,166.53
Havering	463,375.67
High Peak	166,253.15
Hillingdon	498,778.37
Hinckley and Bosworth	177,066.65
Hounslow	839,043.23
Ipswich	240,161.65
Islington	1,611,323.41
Kensington and Chelsea	494,889.65
Kingston upon Hull	664,969.75
Kingston upon Thames	293,883.31
Kirklees	858,005.92
Lambeth	1,422,189.56
Lancaster	304,854.29
Leeds	2,450,179.39
Leicester	725,562.12
Lewes	172,309.32
Lewisham	820,611.82
Lincoln	225,591.59
Luton	277,413.42
Manchester	1,088,197.60
Mansfield	202,070.09
Medway Towns	112,486.65
Melton	64,462.05
Mid Devon	98,501.90
Mid Suffolk	134,278.55
Milton Keynes	355,448.22
New Forest	244,575.80
Newark and Sherwood	188,791.27
Newcastle upon Tyne	1,102,721.41
Newham	756,445.92
North East Derbyshire	274,422.35
North Kesteven	170,629.47
North Northamptonshire	325,764.92
North Tyneside	798,533.64
North Warwickshire	136,847.90
North West Leicestershire	252,939.42
Northumberland	594,384.95
Norwich	467,525.99
Nottingham	887,966.30
Nuneaton	249,063.00
Oadby & Wigston	65,141.12
Oldham	119,477.82
Oxford City	656,422.01
Portsmouth	395,246.44
Reading	385,564.44
Redbridge	247,590.32
Redditch	330,810.31
Richmondshire	122,410.65
Rotherham	812,153.49
Rugby	209,978.15
Runnymede	185,563.65
Salford	87,250.52
Sandwell	1,149,500.98
Sedgemoor	117,005.23
Selby	185,219.16
Sheffield	1,423,534.79
Shropshire	248,747.82
Slough	351,607.38
Solihull	599,562.14
Somerset West and Taunton	162,663.24
South Cambridgeshire	202,190.86
South Derbyshire	132,792.19
South Holland	183,226.03
South Kesteven	341,076.00
South Tyneside	863,711.96
Southampton	494,472.86
Southend-on-Sea	235,373.93
Southwark	1,816,559.92
St Albans	398,068.64
Stevenage	367,885.88
Stockport	917,765.35
Stoke-on-Trent	562,413.38
Stroud	196,450.29
Sutton	307,995.25
Swindon	309,416.61
Tamworth	178,165.09
Tandridge	159,330.12
Tendring	130,994.81
Thanet	83,576.03
Thurrock	439,693.01
Tower Hamlets	740,233.45
Uttlesford	181,362.89
Waltham Forest	558,187.18
Wandsworth	1,097,179.82
Warwick	409,529.79
Waverley	323,488.62
Wealden	142,467.71
Welwyn Hatfield	574,039.94
West Lancashire	345,820.52
West Northamptonshire	457,055.32
Westminster	1,241,590.14
Wigan	1,603,927.75
Wiltshire	286,863.65
Winchester	325,208.77
Woking	228,339.41
Wokingham	124,528.22
Wolverhampton	919,699.30]

Textual Amendments

F28 Sch. Table B substituted (30.6.2021) by The Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2021 (S.I. 2021/611), reg. 1(2), Sch. 2 (with reg. 7(3)(5)(7))