Councils Won’t Pay HVA Levy In 2017/18

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. Read more on the ARCH website.