Issue - meetings
Knowle Green Estates – repatriation of profits and cashflow to Spelthorne Borough Council
Meeting: 20/04/2022 - Corporate Policy and Resources Committee (Item 54)
54 Knowle Green Estates – repatriation of profits and cashflow to Spelthorne Borough Council 
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To note the options available to Council for the repatriation of funds and estimate forecast of cash inflows to Spelthorne Borough Council from Knowle Green Estates Ltd.
Additional documents:
- Appendix A - repatriation cash flows for the 50 years to 310272, item 54
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- Appendix B - repatriation profit and loss accounts for the 50 years to 310272, item 54
PDF 36 KB
- Appendix C - repatriation balance sheet for the 50 years to 310272, item 54
PDF 46 KB
- Appendix D - difference in assumptions, item 54
PDF 47 KB
Decision:
The Committee noted the options available to the Council for the repatriation of funds from Knowle Green Estates Ltd to Spelthorne Borough Council and the estimated potential annual cash inflow.
Minutes:
The estimated figures provided in the report would be affected by future Council decisions on the Oast House and Thameside developments. Legal agreements would be drawn up once there was certainty over these projects as they would have a significant impact on the portfolio of properties that KGE was responsible for.
The tax liabilities associated with each method for repatriating profits were set out in the officer’s report. It was confirmed that the preferred option had been discussed with HMRC.
The Committee noted the options available to the Council for the repatriation of funds from Knowle Green Estates Ltd to Spelthorne Borough Council and the estimated potential annual cash inflow.