Regulation 7 Base liability for 2005–06 for a hereditament outside previous transitional provisions

Subject to paragraph (3), this regulation applies to a defined hereditament if the chargeable amount for the hereditament for 31st March 2005 was not determined under the 1999 Regulations.

Where this regulation applies, the base liability for the hereditament for the relevant year shall be found by applying the formula—

where—

• Y is—

  1. (a)

     in the case of a hereditament shown in a local list for 31st March 2005, the rateable value shown for the hereditament for that date in the local list, and

  2. (b)

     in the case of a hereditament shown in the central list for 31st March 2005, the rateable value shown for the hereditament for 31st March 2005 in the list or the value certified by the appropriate valuation officer to be the rateable value which would have been shown in the central list for the hereditament for 31st March 2005 if that had been the only hereditament of the designated person shown in that list for that date; and

• Z is the non-domestic rating multiplier for the financial year beginning in 2004.

For a hereditament to which Schedule 1 (altered hereditaments) applies, paragraph 3 of that Schedule shall have effect for finding the base liability.