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Councils won’t pay HVA Levy in 2017/18 24/11/2016

ARCH has learned that stock retained councils will not be required to make high-value asset (HVA) payments in 2017/18. This comes as news following the announcement of an expanded pilot for the voluntary Right to Buy for housing association tenants.


In his Autumn Statement on 23 November, the Chancellor announced that following the initial pilot of the voluntary Right to Buy for tenants with five housing associations, the government will launch an expanded regional pilot in 2017-18.


This pilot will be funded by the Exchequer to the tune of £250million over four years from 2017-18 to 2020-21. More information on the timing will follow once the detail has been developed with the housing association sector.


As we know, the government intend to fund the extension of Right to Buy to housing association tenants by introducing a HVA levy on stock retained councils under provisions in the Housing and Planning Act.


DCLG officials have told ARCH that the government remain committed to delivering the manifesto commitment to extend the Right to Buy to housing association tenants and are considering how the legislation on HVA will be implemented under the framework set out in the Act.


However, Ministers have been clear that they want a smooth process for introduction and want to give authorities fair notice of what their payments will be. We've been advised that for this reason, local authorities will not be required to make HVA payments in 2017/18.


We'll keep our members updated with the latest developments.

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