Further to our news story published at the end of October 2013 the Government has now confirmed the detail and the timing for the introduction of amendments to the CIL regulations.
The amendment proposes a number of changes to the way in which CIL is set, calculated and paid, as well as changes relating to reliefs and the relationship between CIL and planning and highways agreements.
The attached note provides detail of seven of the most significant changes, ranging from an extension to the ‘vacancy test’; allowing the phasing of CIL payments; and enabling the provision of infrastructure to be treated as ‘in kind’ payments.
The draft amendments are due to come into effect by the end of January 2014. The amendments do provide more flexibility and clarity into the CIL regulations but also more elements of uncertainty. The Government has pledged a review of the CIL in January 2015 to assess its effectiveness. It will be interesting to see what this review uncovers and whether it will mean the potential end of the CIL.
If you would like to discuss these amendments further then please get in touch.