The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003
PART 1PRELIMINARY
1Citation, commencement, application and interpretation
PART 2BORROWING
2Code of practice
PART 3CREDIT ARRANGEMENTS
TRANSACTIONS WHICH ARE CREDIT ARRANGEMENTS
2ASecuritisation transactions
TRANSACTIONS WHICH ARE NOT CREDIT ARRANGEMENTS
3Liabilities that do not arise from capital expenditure
4Retirement benefits
SUPPLEMENTARY PROVISION
5Varied transactions
COST OF CREDIT ARRANGEMENTS
6Calculation of cost of credit arrangements
PART 4CAPITAL RECEIPTS
SUMS TO BE TREATED AS CAPITAL RECEIPTS
7Repayment of loan etc. to a local authority
7ABonds
8Disposal of mortgage portfolio
9Payment made to redeem landlord’s share
9ASocial HomeBuy receipts
9BSecuritisation transaction receipts
SUMS NOT TO BE TREATED AS CAPITAL RECEIPTS
10Capital receipts not exceeding £10,000
11Operating and finance leases
POOLING OF RECEIPTS
12Pooling of receipts from housing land
13Interest on late payments
14Specified amount
15Capital receipt treated as reduced
16Available capital allowance
16AAvailable Social HomeBuy allowance
16BTotal Social HomeBuy allowance
17Total capital allowance
18Provision of affordable housing
19Regeneration projects
20Capital receipts reduced by costs of buying back dwellings in the preceding year
20ACapital receipts reduced by consideration for former new town assets
21Transitional reductions for debt-free authorities
22Non-money receipts
MISCELLANEOUS
23Use of capital receipts
PART 5SUPPLEMENTARY
24Guidance
25Expenditure to be capital expenditure
26Expenditure not to be capital expenditure
PART 6REVENUE PROVISION
27Duty to make revenue provision
28Determination of minimum revenue provision
29Past deficiencies in minimum revenue provision
PART 7ACCOUNTS
29AAccounting for capital expenditure
30Retirement benefits
30ABack payment following unequal pay
30BEarly repayment of loans – premiums and discounts at 31st March 2007
30CEarly repayment of loans – premiums and discounts after 31st March 2007
30DInterest on loans given by local authorities
30EInterest on stepped interest rate loans taken out by local authorities
30FFinancial guarantees given by local authorities
30GImpairment of certain investments
30HShort-term accumulating compensated absences
30ILease classification
30JSpecial accounting provision in respect of non-domestic rating liabilities
31Proper practices
PART 8MISCELLANEOUS PROVISIONS
32Local authorities for the purposes of Part 1 of the Local Government Act 2003 – levying bodies
33Use of amounts set aside under the Local Government and Housing Act 1989
34Loans to qualifying local government bodies
SCHEDULECalculation of the sub-liability
1(1) This Schedule applies to capital receipts derived from dwellings...
2In this Schedule— “available buy back allowance” is an amount...
3(1) The buy back allowance for the relevant quarter means...
4In this Schedule— A means the total receipts received from...
5E (the total transaction cost) means— H × I ....
6F*** means— B − C − F * * except...
7M means A * − E * − F *...
8G means— (a) in the period of quarter 1— D...
9L** means— (a) 2.398347729 in the financial year 2012 to...
10L means— (a) in the financial year 2012 to 2013—...
11F means— F * * * except where ( E...
12J means an amount of the available buy back allowance...
13K means— A − E − F − G −...
2003 No. 3146
LOCAL GOVERNMENT, ENGLAND

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

Made
Laid before Parliament
Coming into force
for the purposes of regulations 1 and 2
for all other purposes
The Secretary of State, in exercise of the powers conferred upon him by sections 3, 7(3)(c), 8(3), 9(3), 10, 11, 15(1)(b), 16(2), 21, 23(2) and 123(1) and (2) of, and paragraph 4 of Schedule 1 to, the Local Government Act 20031, hereby makes the following Regulations: