Regulation 26 Inflation-adjusted payment amount

(1)

The adjusted payment amount is to be calculated by applying the following formula—

\frac{A \times I_{L}}{I_{P}}

where—

“A” is the amount paid;
“I_L” is the index figure for the calendar year in which levy liability arose;
“I_P” is the index figure for the calendar year in which the payment is made.

(2)

For the purposes of this regulation the index figure for a given calendar year is—

(a)

the figure in the RICS CIL Index published at 1st November of the preceding calendar year by the Building Cost Information Service of the Royal Institution of Chartered Surveyors, or

(b)

if the RICS CIL Index is not so published, the figure for the month of November for the preceding calendar year in the consumer prices index including owner occupiers’ housing costs (all items) published by the Office for National Statistics.

(3)

A liable person may make a request in writing to Natural England for a calculation of the amount which must be paid for the adjusted payment amount to equal the outstanding amount of a specific relevant amount in the calendar year in which the request is made.

(4)

Where Natural England receives a request under paragraph (3), it must provide the information requested to the person who made the request.

(5)

This regulation does not apply to payments made for a surcharge imposed under regulations 35 to 37 or interest accrued under regulation 39.