The Collection Fund is an agent's statement that reflects the statutory obligation of billing authorities to maintain a separate Collection Fund. The statement shows the transactions of the billing authority in relation to the collection from taxpayers of Council Tax and Non-Domestic Business Rates (NDR) and its distribution to precepting bodies and the government. For the council the precepting bodies are Central Government (MHCLG) and the Greater London Authority (GLA).
The council has a statutory requirement to operate a Collection Fund as a separate account to the General Fund. The purpose of the Collection Fund, therefore, is to isolate the income and expenditure relating to council tax and non-domestic business rates. The administration costs associated with the collection process are charged to the General Fund.
Council Tax income derives from charges raised according to the value of residential properties, which have been classified into nine valuation bands (A to H) for this specific purpose. Individual charges are calculated by estimating the amount of income required to be taken from the Collection Fund by the council for the forthcoming year and dividing this by the council Tax base (i.e. the equivalent number of Band D dwellings).
The Council Tax base was 124,454 for 2025/26 (123,110 for 2024/25).
The basic amount of Council Tax including the GLA precept for a Band D property was £2,041.02 for 2025/26 (£1,948.34 for 2024/25). This is multiplied by the proportion specified for the particular band to give an individual amount due.
The Council Tax base for 2025/26 details are shown below:
| Band | Estimated No. of properties after discounts, exemptions and council tax support | Ratio | Equivalent No. of Band D properties |
|---|---|---|---|
| A | 3,189 | 6/9 | 2,126 |
| B | 8,857 | 7/9 | 6,889 |
| C | 27,637 | 8/9 | 24,566 |
| D | 40,235 | 9/9 | 40,235 |
| E | 21,469 | 11/9 | 26,240 |
| F | 9,460 | 13/9 | 13,664 |
| G | 6,765 | 15/9 | 11,275 |
| H | 1,000 | 18/9 | 1,999 |
| Total Council Tax Base | 118,611 | 126,994 | |
| Adjustment for actual collection rate | 2,540 | ||
| Council Tax Base for 2025/26 | 124,454 | ||