Community Infrastructure Levy
On 10 February 2010 the final draft regulations for the Community Infrastructure Levy (CIL) were put before the House of Commons, and if approved will come into force on 6 April 2010.
The new draft regulations incorporate some significant changes to the CIL amongst which some of the principle changes are as follows:
- The CIL will now be calculated on the increase in net, rather than gross, floor space
- The period for payment of the CIL will increase from 28 to 60 days
- Developments comprising only social housing shall receive a 100% exemption
- The charitable relief provisions shall be widened so that more charities will qualify for the exemptions
To view the Explanatory Memorandum to the new draft regulations click here