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FLEXIBLE USE OF CAPITAL RECEIPTS

March 26th, 2025 by James Goudie KC

There has been an updated Direction and Statutory Guidance from the Ministry of Housing, Communities and Local Government to extend the freedom for local authorities to use eligible capital receipts to fund the revenue costs of projects that deliver ongoing savings or improved efficiency.  The Direction, which revokes and replaces the Direction of the same name issued on 2 August 2022, extends the flexible use of capital receipts to 2030.  It also removes the restriction with respect to redundancy costs that limits the use of the flexibility to statutory redundancy costs  only.  The Direction includes the requirement to submit the planned use of the flexibility in advance of use for each financial year.

This entry was posted on Wednesday, March 26th, 2025 at 5:23 pm and is filed under Capital Finance and Companies. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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