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Paragraph 7 Notional chargeable amount for new hereditament

Original text. Later amendments are not shown.

(1)

This paragraph applies for determining the notional chargeable amount for a new hereditament for a relevant year falling after the year in which the creation day falls.

(2)

Where this paragraph applies, the relevant notional chargeable amount shall be found by applying the formula J x D,

where—

  • J is the rateable value shown in a local or the central list for the new hereditament for the creation day; and

  • D is the small business non-domestic rating multiplier for the relevant year.