The formula used to calculate the amount of CIL payable allows for changes in building costs over time and is Index Linked using the All-In Tender Index Price published by the Build Cost Information Service (BCIS) and is:
Net additional new build floor space (A) x CIL Rate (R) x Inflation index (I)
Where:
A = the net area of floor space chargeable in square metres after deducting any existing floor space and any demolitions, where appropriate.
R = the levy rate as set in the Charging Schedule
I = All-in tender price index of construction costs in the year planning permission was granted, divided by the All-in tender price index for the year the Charging Schedule took effect. For 2024 this value is 1.465 (rounded)