Show me the money? Regulator publishes discussion paper on charging fees for regulation
In a long-anticipated move, the Regulator published its discussion paper on charging fees for regulation on 10 February 2014. The regulator has so far chosen not to use the powers granted to it under the Housing and Regeneration Act 2008 to levy fees on registered providers (RPs); however, it states within the foreword to the discussion paper that this is one move to enable the regulator to equip itself to effectively regulate a more diverse sector.
Final proposals are to be published by October 2014, with April 2015 as the earliest date for the introduction of fees.
The discussion paper’s key points are: the Regulator is seeking views on introducing both a registration fee and annual regulation fee; it sets out the various options for setting the fees, but the Regulator’s preferred options are a flat registration fee (set at such a level so as not to discourage applications) that will only be payable if registration is successful and an annual regulation fee based on an RP’s number of social-housing units, with a minimum annual fee (suggested at £300)…
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