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Paragraph 3 Base liability for subsequent years

Original text. Later amendments are not shown.

(1)

The base liability for a new hereditament to which this Schedule applies for a relevant year beginning in 2001, 2002, 2003 or 2004 (the year concerned) shall be found by applying the formula BL × AF.

(2)

For the purpose of this paragraph–

  • BL is the base liability for the hereditament for the relevant year immediately preceding the year concerned, and

  • AF is the appropriate fraction for the hereditament for the relevant year immediately preceding the year concerned.