Paragraph 7 Notional chargeable amount for new hereditament

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.

Where this paragraph applies, the relevant notional chargeable amount is found by applying the formula—

$$J\times D$$

where—

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

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