In this section:

Retention of Right to Buy receipts - new guidance 08/07/2021 Labelled as Legislation

Following the announcement of changes to the rules governing the use of capital receipts from the sale of council homes under the Right to Buy (RTB receipts), the Ministry of Housing, Communities and Local Government (MHCLG) has now issued revised guidance on the use of RTB receipts.


The revised guidance incorporates major changes to the RTB pooling system that took effect from 1 April 2021 and the amended terms of the Retention Agreements to be concluded between the Secretary of State and authorities under section 11(6) of the Local Government Act 2003 to enable them to retain RTB receipts, and the amendments to the Local Authorities (Capital Finance and Accounting) Regulations 2003 that came into force on 30 June 2021. It replaces all existing guidance on the calculation and use of receipts arising from RTB sales.


The revised guidance was issued to local authority finance officers (Section 151 Officers) on 25 June, together with the updated right to buy retention agreement and Statutory Instrument (SI 2021/611).


Click here for a copy of the revised MHCLG guidance.



Like emailLink
ARCH Member Comments 1 people like this