Instalments policy
This Policy is made in line with Regulation 69B of the Community Infrastructure Levy Regulations 2010 (as amended).
The Community Infrastructure Levy will be payable as follows
CIL liability (£) | Number of instalments | Amount or proportion of CIL payable in any instalment and timing of Instalment |
---|---|---|
Less than £,50,000 | 1 | Full payment required within 60 days of commencement date |
£50,000 to £499,999.99 | 2 |
First instalment representing 50% of the total payable within 90 days of commencement date. Balance payable within 360 days of commencement date. |
£500,000 to £999,999.99 | 3 |
First instalment representing 25% of the total payable within 90 days of commencement date. Additional 25% of the total payable within 360 days of commencement date. Balance payable within 540 days of commencement date |
£1,000,000 to £2,000,000 | 4 |
First instalment representing 25% of the total payable within 90 days of commencement date. Additional 25% of the total payable within 360 days of commencement date. Additional 25% of the total payable within 540 days of commencement date. Balance payable within 720 days of commencement date |
Greater than £2,000,000 | 5 | First instalment representing 20% of the total payable within 90 days of commencement date |
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