Community Infrastructure Levy: key facts
Community Infrastructure Levy (“CIL”) is a form of tax levied by a local planning authority or public body e.g. the Mayor of London, (a “charging authority”) on commencement of development of land. It can apply to freehold property and to leaseholds for more than seven years.
Where property is:
- about to be developed; or
- has recently been developed; or
- has been held by a charity since development
and CIL was introduced for the locality before the development began it is essential to check whether CIL applies.
If it does, there is a compliance regime as well as a payment obligation. Owners, developers and financiers of development property should check their exposure. (Although charities are exempt, there can be a “clawback” payment when the charity sells.)…
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