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RICS, with the support of the Ministry of Housing Communities and Local Government (MHCLG), developed an annual index for the purposes of keeping the levy rate responsive to market conditions.
The Index is prepared and maintained by BCIS.
From 1 January 2020 local authorities in areas which charge the levy should use the figure for 1 November for the preceding calendar year. See the ‘Community Infrastructure Levy (Amendment) (England) Regulations 2019’ and related MHCLG guidance here.
The Index is an annual index and the figure to be used from 1 November each year will be published in October.
|2020||334||28th October 2019|
|2021||333||26th October 2020|
|2022||332||25th October 2021|
The index is based on the BCIS All-in Tender Price Index (BCIS TPI). Details of the calculation of the RICS CIL index and the BCIS TPI are given below.
The index is published on the same base as the BCIS All-in Tender Price Index used in the previous regulations. The 2021 figure is based on building prices in 2020 (see details of calculation) and will apply from 1st January 2021, it can therefore be used to update schedules set up under the previous regulations and as the base for new schedules.
The index will be published on the fourth Monday in October each year. The Index, once published, will not normally be subject to revision. Should RICS feel it necessary to amend a published Index this will only be done with the agreement of MHCLG and details will be provided on the Webpage.
The index should be applied as set out in the ‘Community Infrastructure Levy (Amendment) (England) (No.2) Regulations 2019’ and any guidance thereto issued by MHCLG.
The Index for the year in which it applies is calculated in the October of the previous year.
The index is calculated as the arithmetic mean of the four quarters of the BCIS TPI prior to the 4th quarter each year as calculated by BCIS in October prior to the year applicable. The annual index will therefore be the mean of the 4th quarter of the previous year and the first three quarters of the year in which it is calculated (one year before the index year), rounded to the nearest whole number.