Commission Working Document on calculation, financing, payment and entry in the budget of the correction of budgetary imbalances in favour of the United Kingdom (‘the UK correction’) in accordance with Articles 4 and 5 of Council Decision 2014/xxx/EU, Euratom on the system of own resources of the European Union

In accordance with the conclusions of the European Council of 7-8 February 2013 and the Council Decision on the system of own resources of the European Union of (...), this document replaces the Commission working document 9851/07 of 23 May 2007. Unless otherwise stated, any references to Articles relate to the Own Resources Decision of (...), hereinafter referred to as the 2014 ORD.

This document lays down the following provisions for the UK correction:
- The calculation of the amount of the correction of a given year,
- Its financing in the following year,
- Definitions of budgetary aggregates,
- The entry of the correction in the budget.

The modifications to the own resources system deriving from the conclusions of the European Council of 7-8 February 2013 have no impact on the UK correction for the years prior to 2014. Having regard to the entry into force of the 2014 ORD, the provisions of the present document shall take effect on 1 January 2014. They shall, therefore, apply starting with the calculation of the UK correction originating in the year 2014, to be budgeted for the first time in 2015.

Any use of the general budget of the Union giving rise to compensation under the terms of article 12 of the Intergovernmental Agreement on the functioning of the Single Resolution Fund ('SRM-related expenditure') shall not have an impact on the UK correction. Both the SRM-related expenditure and the corresponding additional use of the GNI resource shall therefore be excluded from the calculation.

• Primary Source

EUR-Lex: COM(2014)271: Follow the progress of this document through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2014:271:FIN

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