Threads / Local Authority Housing Fund / Housing revenue account: draft item 8 credit and item 8 deb…
Consultation Outcome Published 26 May 2016 Ministry of Housing, Communities and Local Government ↗ View on GOV.UK

Housing revenue account: draft item 8 credit and item 8 debit (general) determination

Proposals for the treatment of impairment and depreciation in housing revenue accounts of local authorities in England from 1 April 2017.

Opened 26 May 2016
Closed 8 Jul 2016
Attachments
▤ Verbatim text from source document

As part of the Housing Revenue Account (HRA) self-financing settlement in 2012, substantial changes were made to the accounting treatment of capital assets. A 5 year transitional period was put in place to help local authorities manage the impact of these changes by allowing them to “reverse out” impairment charges.

This consultation contains proposals on how these items should be treated in the HRA after the transitional period ends.