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This is the government response to the responses to its consultation on technical amendments to regulations governing the treatment of local authorities’ Right to Buy receipts.
The government is grateful to the responses received from local authorities and other bodies to its consultation on the technical regulatory amendments which intend to continue with the current formula for calculating the payable part of their Right to Buy receipts. The responses confirmed that the technical changes achieved that effect.
Local housing authorities are required to pay HM Treasury a share of the receipts arising from the sales of their homes made under Right to Buy. The formula for calculating this expires on 31 March this year.
This technical consultation proposes that receipts paid to HM Treasury for a further 4 years are calculated essentially on the same principles as previous years.