Paragraph 6 Changes in the value of new hereditament: year of creation

(1)

Sub-paragraph (2) applies in respect of a new hereditament in a year in which the creation day falls where for a chargeable day after the creation day the rateable value shown in a list for the hereditament is greater than the rateable value shown for the creation day.

(2)

Where this sub-paragraph applies, paragraphs 2 to 5 have effect as regards the hereditament for the chargeable day as if the reference in those paragraphs to—

\frac{R \times J}{S}

were a reference to—

\frac{R \times J}{S} + \frac{((N - J) \times B)}{C .}

(3)

Sub-paragraph (4) applies in respect of a new hereditament in a year in which the creation day falls where for a chargeable day after the creation day the rateable value shown in a list for a hereditament is less than the rateable value shown in a list for the creation day.

(4)

Where this sub-paragraph applies, paragraphs 2 to 5 have effect as if the reference in those paragraphs to—

\frac{R \times J}{S}

were a reference to—

\frac{R \times J \times N}{S \times J .}

(5)

For the purposes of sub-paragraphs (2) and (4)—

B is the non-domestic rating multiplier for the relevant year in which the creation day falls;
C is the number of days in the relevant year in which the creation day falls;
N is the rateable value shown in a list for the new hereditament for the chargeable day; and
R, J and S have the same meanings given by paragraph 2, 3, 4 or 5.