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Michael Jackson
#1 Posted : 27/06/2018
Joined: 2/24/2018(UTC)
Posts: 89

Very rarely we've received receipts from releasing covenants on low cost home ownership properties. We've treated the income as capital receipts, and have used them to increase capital programme budgets for affordable housing.

It isn't clear whether that has just been our practice, or whether any legislation/regulations restricted use of the receipts.

We are considering a change in policy which could lead to the release of additional sums and before doing so would prefer to know whether use of the income could be restricted to specific purposes.

All of the properties are private sector.

I would be grateful for advice.
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