The interest-free loan was signed off by senior councillors on Wednesday
The interest-free loan, which was signed of by senior councillors on Wednesday, covers the expected tax relief the Leeds Culture Trust is expected to receive from the government next year.
Tax relief can only be claimed retrospectively and so organisers were keen to avoid a situation where they ended up with £1.8m next year with nothing to spend it on. “Just to be crystal clear, if that money is not forthcoming from HMRC then the council and taxpayers of Leeds are on the hook.”The local authority has said, however, that it has been assured the tax relief will arrive next year and the loan can be repaid in full.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
City parking charges with some almost half the price of othersNottingham City Council runs a number of car parks in and around the city centre
Read more »
Harehills and city centre 'worst places in Leeds' for rejected votesThis year’s elections were the first in the UK where voters needed to produce proof of their identity
Read more »
Leeds United changes expected as Daniel Farke ponders rotation vs Hull CityLeeds United travel to face Hull City on Wednesday night and Daniel Farke has options to keep things fresh
Read more »
Hull City injury latest and predicted XI for Leeds United clashLeeds United will be looking to record a second straight league win when they travel to the MKM Stadium on Wednesday night and here is the latest team news for Hull City
Read more »
Live updates from Daniel Farke's pre-Hull City vs Leeds United press conferenceLatest updates from the Leeds United manager's press conference ahead of Wednesday's Championship clash with Hull City at MKM Stadium as Daniel Farke faces questions on team news
Read more »
Select your Leeds United XI to face Hull City as Daniel Farke's options open upDaniel Farke has a number of options to choose from as he readies his Leeds United team to face Hull City on Wednesday evening
Read more »