Magazine article Public Finance

Affordable Homes Escape New Tax

Magazine article Public Finance

Affordable Homes Escape New Tax

Article excerpt

Affordable homes built by housing associations and other developers will be exempt from the Community Infrastructure Levy.

The decision was confirmed on February 15 as final regulations to enact die new tax - which councils in England and Wales will be able to levy on developments in their areas from April - were laid before Parliament. The concession follows extensive lobbying by organisations including the National Housing Federation and Shelter.

The NHF described it as a victory that could potentially save housing associations millions of pounds and allow them to build more homes for social renting and low-cost ownership. NHF chief executive David Onpraised housing minister John Healey and officials at the Department for Communities and Local Government for listening to its concerns. …

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