Regulation 6 Amendment to regulation 5

For regulation 5(3) (business rates baseline and baseline funding level) substitute—

“(3)

Unless paragraph (3ZA), (3ZB) or (3ZC) applies, the baseline funding level for an authority for—

(a)

the years commencing on 1st April 2014, 1st April 2015, 1st April 2016 and the years commencing on or after 1st April 2018, other than as provided for by sub-paragraph (b), is the amount calculated in accordance with the formula—

$$A\times \left(\raisebox{1ex}{$B_2$}\!\left/ \!\raisebox{-1ex}{$B_1$}\right.\right)$$

(b)

the year commencing on 1st April 2023 is the amount calculated in accordance with the formula—

$$A\times 1.03742203742204$$

Where—

• A is the baseline funding level for the year immediately preceding the relevant year;

• B₂ is the small business non-domestic rating multiplier for the relevant year;

• B₁ is the small business non-domestic rating multiplier for the preceding year.”.