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Article 9 Rateable value in 1992/3 and subsequent intermediate years

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Where—

(a)

in respect of the year beginning on 1st April 1991 the rateable value of Welsh gas hereditaments has been determined in accordance with article 8(1), and

(b)

in respect of a subsequent intermediate year a calculation in respect of those hereditaments according to formula 2, that is to say—

(RV-R)*1.2*(1+I-B/U)+U

produces an amount less than that produced by a calculation in accordance with the standard formula,

the rateable value of those hereditaments in that year shall be the amount calculated in accordance with formula 2; and in any other case it shall be the amount calculated in accordance with the standard formula.