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Care and Support Charging and Financial Assessment Framework

20. Annex C

Charges for interim funding and interest rates

Annual interest rates on Interim Funding

Period Interest Rate
1 January 2018 – 30 June 2018 1.45% yearly rate charged daily
1 July 2018 – 31 December 2018 1.85% yearly rate charged daily
1 January 2019 – 30 June 2019 1.65% yearly rate charged daily
1 July 2019 – 31 December 2019 1.65% yearly rate charged daily
1 January 2020 – 30 June 2020 1.45% yearly rate charged daily

Charges

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.

Sample documents