Paragraph 2 Calculation for major precepting authorities

The retained rates income of an authority that is a major precepting authority is the amount calculated in accordance with the formula—

$$RS+\left(P-Q\right)$$

Where—

• R is the sum of the certified non-domestic rating income of all billing authorities required to make payments to the major precepting authority for the relevant year under Part 4 of Schedule 7B to the 1988 Act (payments by billing authorities to major precepting authorities);

• S is—

  1. (i)

     10% where the relevant authority is a county council which is a fire and rescue authority;

  2. (ii)

     9% where the relevant authority is a county council which is not a fire and rescue authority;

  3. (iii)

     20% where the relevant authority is the Greater London Authority;

  4. (iv)

     1% where the relevant authority is a fire and rescue authority not falling within paragraph (a);

• P is the amount paid to the authority by the Secretary of State for the relevant year in accordance with Part 5 of Schedule 7B to the Act (principal payments in connection with local retention of non-domestic rates); and

• Q is the amount paid by the authority to the Secretary of State for the year in accordance with Part 5 of Schedule 7B to the Act.