{
  "url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-amendment-england-regulations-2010/note",
  "json_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-amendment-england-regulations-2010/note.json",
  "legislation": "uksi/2010/454",
  "legislation_title": "The Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2010",
  "legislation_url": "https://openlegislation.uk/local-authorities-capital-finance-and-accounting-amendment-england-regulations-2010",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Local Authorities (Capital Finance and Accounting) (England) Regulations 2003 (S.I. 2003/3146).\nRegulation 3 changes the definition of retirement benefits so that instead of benefits payable under specified funds or schemes, they are defined as benefits payable under statutory requirements which are accounted for in the ways specified (in accordance with proper practices). The ways specified differ for the financial year 2009/10 and subsequent years.\nRegulation 4 permits local authorities to use capital receipts to meet the costs of or incidental to a disposal of an interest in land other than housing land, provided these do not exceed 4% of the capital receipt arising from the disposal; and also to make all or part of a payment to a person to repay money owed on the disposal of an asset, as a result of an agreement made at the time of the acquisition of that asset or in relation to such an agreement.\nRegulation 5 provides that the acquisition by local authorities of shares in an investment scheme approved by the Treasury under section 11 of the Trustee Investments Act 1961 is not capital expenditure.\nRegulation 6 extends until 2013 the ability of local authorities to defer charging liabilities for back pay due to equal pay claims to a revenue account until the date on which the back payment must actually be paid. Regulation 10 revokes the provision in the Local Authorities (Capital Finance and Accounting) (Amendment) (England) Regulations 2007 (S.I. 2007/573) which only permitted the deferral of charging back pay to a revenue account until the back payment was actually paid until 2011.\nRegulation 7 concerns the accounting treatment for short-term accumulating absences of employees (such as entitlement to holiday or time off in lieu which has accrued but not yet been taken). Local authorities must not charge an amount in respect of liability for such entitlements to a revenue account until the date on which the liability ceases.\nThe accounting treatment for leases under proper practices is changing for the financial year 2010/11, which may lead to some existing financial arrangements being classified as operating or finance leases which were not previously so classed, with the result that the arrangements would be subject to different accounting treatment under proper practices. Regulation 8 provides that local authorities may continue to apply the accounting treatment that applies to such financial arrangements on 31st March 2010 for subsequent financial years.\nRegulation 9 updates the title of one of the documents identified by the Secretary of State as constituting proper practices, in relation to the accounting practices for the accounts of a local authority.\nAn impact assessment has not been produced for this instrument as no impact on business or the private or voluntary sectors is foreseen.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2010/454/note",
    "retrieved_at": "2026-10-29T02:51:35.296688+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}