Match Funding Guidance
Towns have successfully submitted their Town Investment Plans and have prepared, or are currently preparing, Business Cases for their interventions. As part of the preparation of these Business Cases, Towns need to consider all the sources of funding and how these sources will be used to deliver their interventions.
This short note sets out guidance on match funding, and more widely co-funding, for Towns as part of the production of Business Cases for the projects that were allocated Towns Fund funding. While it is not an exhaustive or fully comprehensive note, it aims to support the development of the Business Cases and decision making of Towns.
It should be noted that a degree of judgement will still need to be applied by Towns on a case-by-case basis when explaining how match funding has been achieved. We have included some examples at the end of this guidance.
Tax Considerations
This document sets out—at a high level—some key prompts and considerations that Towns may wish to consider in determining how they constitute themselves in projects or take certain actions, with a focus on potential tax implications.
This document sets out—at a high level—some key prompts and considerations that Towns may wish to consider in determining how they constitute themselves in projects or take certain actions, with a focus on potential tax implications. This document is purely informative and does not constitute advice.
The following taxes and issues are discussed:
Activities conducted within the local authority
Activities conducted by Special Purpose Vehicles (SPVs)
Stamp Duty Land Tax (SDLT)
VAT in SPVs and local authorities
The document is set out with some key information relating to these four topics and questions that Towns should ask themselves and / or specialists. This is not an exhaustive list of topics or queries Towns need to take into consideration from a tax perspective, and if you have further questions, you should consult your local tax and finance teams.
Financial Case Good Practice
This webinar will focus on the Financial Case which will offer guidance to Towns on how to demonstrate the affordability and funding of the preferred option for each project.
This webinar provides an outline of the key elements of the Financial Case, highlighting Green Book guidance and industry good practice. It is aimed at practitioners within the Town who will be preparing or managing your business cases. The webinar seeks to offer guidance to Towns on how to demonstrate the affordability and funding of the preferred option for each project.