Detail of outcome
The Housing revenue account: item 8 credit and item 8 debit determination was published on 24 January 2017.
As part of the Housing Revenue Account (HRA) self-financing settlement in 2012, substantial changes were made to the accounting treatment of capital assets. A 5 year transitional period was put in place to help local authorities manage the impact of these changes by allowing them to “reverse out” impairment charges.
This consultation contains proposals on how these items should be treated in the HRA after the transitional period ends.