20. Annex C
Charges for interim funding and interest rates
Annual interest rates on Interim Funding
|Period||Interest Rate (yearly rates, charged daily)|
|1 January 2018 to 30 June 2018||1.45%|
|1 July 2018 to 31 December 2018||1.85%|
|1 January 2019 to 30 June 2019||1.65%|
|1 July 2019 to 31 December 2019||1.65%|
|1 January 2020 to 30 June 2020||1.45%|
|1 July 2020 to 31 December 2020||1.05%|
|1 January 2021 to 30 June 2021||0.45%|
|1 July 2021 to 31 December 2021||0.75%|
|Type of charge||Cost|
|Formal valuation||At cost (+ VAT if applicable)|
|Review of debt and interim statement||£105.00 (+ VAT if applicable)|
|Costs of any specialist legal and/or financial advice obtained by the Council (if required) – the Council will provide an estimate in advance.||At cost (+ VAT if applicable)|
- Value Added Tax (VAT) – the legal and administrative costs quoted above are exclusive of VAT. VAT will be charged if applicable. DPA’s which meet the national mandatory DPA requirements to be secured by a first legal charge are not currently subject to VAT.
- VAT does not currently apply to Land Registry statutory fees. Land Registry fess are set and reviewed by the Land Registry and subject to change.
- The charge for review of the debt and interim statement will be increased annually in April line with CPIH.