Paragraph 3 Altered hereditament: base liability for 2017 - 18

(1)

The base liability for the relevant year beginning in 2017 for an altered hereditament is found by applying the formula—

Y \times Z

where—

Y is the amount mentioned in sub-paragraph (2), and
Z is the small business non-domestic rating multiplier for the financial year beginning in 2016.

(2)

The amount referred to in sub-paragraph (1) is the amount certified by the appropriate valuation officer as the rateable value which would have been shown in the list for the hereditament for 31st March 2017 on the assumption that—

(a)

the hereditament came into existence on 31st March 2017; and

(b)

the matters referred to in paragraph 2(7) of Schedule 6 to the Act as respects the hereditament were as they were assumed to be on the day on which it was shown for the first time in a local list as mentioned in paragraph 2(b) of this Schedule.