Appendix C
Maidstone Borough Council
Community Infrastructure Levy: Draft Instalments Policy (July 2016)
|
Total Amount of CIL Liability |
Number of Instalments |
Payment Periods and Proportion of CIL Due |
|||
|
Amounts up to £250,000 |
1 |
100% payable within 60 days of commencement of development. |
|
|
|
|
Amounts over £250,000 and up to £500,000 |
2 |
50% payable within 60 days of commencement of development |
Remaining 50% payable within 12 months of commencement of development |
|
|
|
Amounts over £500,000 and up to £1,000,000 |
3 |
30% payable within 60 days of commencement of development |
Further 30% payable within 12 months of commencement of development |
Remaining 40% payable within 24 months of commencement of development |
|
|
Amounts over £1,000,000 |
4 |
20% payable within 60 days of commencement of development |
Further 20% payable within 12 months of commencement of development |
Further 30% payable within 24 months of commencement of development |
Remaining 30% payable within 36 months of commencement of development |
The CIL Regulations allow the Charging Authority to implement a locally derived instalments policy in place of the default position which requires full payment within 60 days of commencement. Under Regulation 9 of the CIL Regulations, where a site has an outline planning permission with longer term phasing plans, each separate phase of development is treated as a separate "chargeable development" and for clarification, the instalments policy will to each phase. The draft instalments policy is outlined below.