12 news/legal expert
Affordable housing requirements for small scale developments have changed
The Department for Communities and Local Government (DCLG) has made changes to national policy regarding affordable housing requirements in section 106 agreements in connection with small scale sites and those in designated rural areas under section 157 of the Housing Act 1985 (which includes national parks and areas of outstanding natural beauty).
Damien Newton (pictured), a partner at Glanvilles LLP in Chichester and specialist in development land, explains the changes.
An affordable housing requirement is a requirement relating to the provision of housing that is to be made available for people whose needs are not adequately served by the commercial housing market (section 106BA(13), Town and Country Planning Act 1990 (TCPA 1990)). Affordable housing obligations on sites granted in accordance with a rural exceptions
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site policy are exempt (section 106BA(12) and (13), TCPA 1990).
Since the end of 2014 national planning policy has been changed so that: • Local planning authorities (LPAs) should not seek affordable housing and tariff style contributions on small scale sites of 10 units or less, and which have a maximum combined gross floor space of 1,000 sq m. This relaxation will apply to all residential annexes and extensions built on such sites.
• In the case of designated rural areas, LPAs may choose to implement a lower threshold of five units or less beneath which affordable housing and tariff style contributions should not be sought. This relaxation will also apply to all residential annexes and extensions built on such sites.
In relation to the five unit threshold applicable to
designated rural areas, LPAs should only seek a financial contribution, which should be commuted until after completion of the units within the development.
Those developing in rural exception sites will receive limited benefit. These changes to planning policy will not apply save that LPAs should not seek affordable housing and tariff style contributions in relation to residential annexes and extensions.
When calculating the affordable housing requirement, LPAs should credit the developer by deducting from the calculation a contribution equivalent to the existing gross floor space of any vacant buildings brought back into any lawful use or demolished for re-development. No financial credit will be given in respect of vacant buildings which have been abandoned.
A developer or landowner considering any form of planning agreement in relation to a development site should always seek specialist legal advice to ensure that they are adequately protected.
Details: Damien Newton 01243-792102
damien.newton@
glanvilles.co.uk www.glanvilles.co.uk
Pensions shake up brings options and opportunities
This month sees in the biggest overhaul of personal pensions in generations, and experts at the Southampton office of financial and business advisers Grant Thornton are urging savers to get to grips with the new regulations to safeguard a secure retirement.
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One of the most notable aspects of the pensions shake-up, introduced from April 5, is that individuals aged 55 or over will be allowed unlimited access to their defined contribution pension pots in a move designed to give people more freedom over how they use their life savings for old age.
Commenting on the overhaul, Nick Lee of Grant Thornton Southampton’s wealth advisory team, said: “The chancellor shocked the pensions world last year when he announced the new plans which included handing over the power to retirees to do whatever they want to with their nest egg.
“The changes are very welcome and present a great deal of opportunity to plan for a sustainable, tax-efficient
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retirement. However, with this increased freedom comes responsibility and it is now more important than ever for individuals to make well-thought-out decisions about their pension and non-pension investments which are tailored to their long-term objectives. This will help to ensure the money they have worked so hard to save during their lifetime does not run out.“
Another key aspect of the pension reforms is that from April 2015, benefits on death before the age of 75 years can be paid out as a tax free lump sum. Even after the age of 75, it will also now be possible for pension funds to be kept as a pension and passed down to the next generation without the previous 55% tax charge on death.
This presents an interesting estate planning opportunity as some people may choose not to use their own pension funds themselves and instead look to maximise the amount that is left to pass on to their children or grandchildren.
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – APRIL 2015
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