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.