Instalments policy
This Policy is made in line with Regulation 69B of the Community Infrastructure Levy Regulations 2010 (as amended).
The Community Infrastructure Levy will be payable as follows
| CIL liability (£) | Number of instalments | Amount or proportion of CIL payable in any instalment and timing of Instalment |
|---|---|---|
| Less than £,50,000 | 1 | Full payment required within 60 days of commencement date |
| £50,000 to £499,999.99 | 2 |
First instalment representing 50% of the total payable within 90 days of commencement date. Balance payable within 360 days of commencement date. |
| £500,000 to £999,999.99 | 3 |
First instalment representing 25% of the total payable within 90 days of commencement date. Additional 25% of the total payable within 360 days of commencement date. Balance payable within 540 days of commencement date |
| £1,000,000 to £2,000,000 | 4 |
First instalment representing 25% of the total payable within 90 days of commencement date. Additional 25% of the total payable within 360 days of commencement date. Additional 25% of the total payable within 540 days of commencement date. Balance payable within 720 days of commencement date |
| Greater than £2,000,000 | 5 | First instalment representing 20% of the total payable within 90 days of commencement date |
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