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The Local Authorities (Capital Finance and Accounting) (England) Regulations 2003

S.I. 2003/3146 · Made 3 December 2003 · Extends to England and Wales

Up to date with all changes known to legislation.gov.uk, revised to 31 March 2026.

LOCAL GOVERNMENT, ENGLAND

Made 3rd December 2003

Laid before Parliament 10th December 2003

Coming into force

for the purposes of regulations 1 and 2 1st January 2004

for all other purposes 1st April 2004

The Secretary of State, in exercise of the powers conferred upon him by sections 3, 7(3)(c), 8(3), 9(3), 10, 11, 15(1)(b), 16(2), 21, 23(2) and 123(1) and (2) of, and paragraph 4 of Schedule 1 to, the Local Government Act 2003f1, hereby makes the following Regulations:

Annotations to the whole text

Footnotes

f1

2003 c. 26.

Contents

  1. Part 1: PRELIMINARY
  2. 1Citation, commencement, application and interpretation
  3. Part 2: BORROWING
  4. 2Code of practice
  5. Part 3: CREDIT ARRANGEMENTS
  6. Chapter TRANSACTIONS WHICH ARE CREDIT ARRANGEMENTS
  7. 2ASecuritisation transactions
  8. Chapter: TRANSACTIONS WHICH ARE NOT CREDIT ARRANGEMENTS
  9. 3Liabilities that do not arise from capital expenditure
  10. 4Retirement benefits
  11. Chapter: SUPPLEMENTARY PROVISION
  12. 5Varied transactions
  13. Chapter: COST OF CREDIT ARRANGEMENTS
  14. 6Calculation of cost of credit arrangements
  15. Part 4: CAPITAL RECEIPTS
  16. Chapter: SUMS TO BE TREATED AS CAPITAL RECEIPTS
  17. 7Repayment of loan etc. to a local authority
  18. 7ABonds
  19. 8Disposal of mortgage portfolio
  20. 9Payment made to redeem landlord’s share
  21. 9ASocial HomeBuy receipts Repealed
  22. 9BSecuritisation transaction receipts
  23. Chapter: SUMS NOT TO BE TREATED AS CAPITAL RECEIPTS
  24. 10Capital receipts not exceeding £10,000
  25. 11Operating and finance leases
  26. Chapter: POOLING OF RECEIPTS
  27. 12Pooling of receipts from housing land
  28. 13Interest on late payments
  29. 14Specified amount
  30. 15Capital receipt treated as reduced Repealed
  31. 16Available capital allowance Repealed
  32. 16AAvailable Social HomeBuy allowance Repealed
  33. 16BTotal Social HomeBuy allowance Repealed
  34. 17Total capital allowance Repealed
  35. 18Provision of affordable housing Repealed
  36. 19Regeneration projects Repealed
  37. 20Capital receipts reduced by costs of buying back dwellings in the preceding year Repealed
  38. 20ACapital receipts reduced by consideration for former new town assets Repealed
  39. 21Transitional reductions for debt-free authorities Repealed
  40. 22Non-money receipts
  41. Chapter: MISCELLANEOUS
  42. 23Use of capital receipts
  43. Part 5: SUPPLEMENTARY
  44. 24Guidance
  45. 25Expenditure to be capital expenditure
  46. 26Expenditure not to be capital expenditure
  47. Part 6: REVENUE PROVISION
  48. 27Duty to make revenue provision
  49. 28Determination of minimum revenue provision
  50. 29Past deficiencies in minimum revenue provision
  51. Part 7: ACCOUNTS
  52. 29AAccounting for capital expenditure
  53. 30Retirement benefits
  54. 30ABack payment following unequal pay
  55. 30AABack payments following unequal pay – further temporary accounting treatment
  56. 30BEarly repayment of loans – premiums and discounts at 31st March 2007
  57. 30CEarly repayment of loans – premiums and discounts after 31st March 2007
  58. 30DInterest on loans given by local authorities
  59. 30EInterest on stepped interest rate loans taken out by local authorities
  60. 30FFinancial guarantees given by local authorities
  61. 30GImpairment of certain investments
  62. 30HShort-term accumulating compensated absences
  63. 30ILease classification
  64. 30JSpecial accounting provision in respect of non-domestic rating liabilities
  65. 30KFair value gains and losses of pooled investment funds
  66. 30LDeficit relating to schools budget
  67. 30MAccounting for infrastructure assets
  68. 31Proper practices
  69. Part 8: MISCELLANEOUS PROVISIONS
  70. 32Local authorities for the purposes of Part 1 of the Local Government Act 2003 – levying bodies
  71. 33Use of amounts set aside under the Local Government and Housing Act 1989
  72. 34Loans to qualifying local government bodies
  73. Signature
  74. Schedule Calculation of the sub-liability
  75. 1Paragraph 1
  76. 2Paragraph 2
  77. 3Paragraph 3
  78. 4Paragraph 4
  79. 4AParagraph 4A
  80. 4BParagraph 4B
  81. 4CParagraph 4C
  82. 5Paragraph 5
  83. 6Paragraph 6
  84. 7Paragraph 7
  85. 8Paragraph 8
  86. 9Paragraph 9
  87. 10Paragraph 10
  88. 11Paragraph 11
  89. 12Paragraph 12
  90. 13Paragraph 13
  91. Explanatory note