Section 62 Calculation of non-domestic rating multiplier

Schedule 7 to the 1988 Act (non-domestic rating multipliers) is amended as follows.

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After paragraph 9 (special authority’s non-domestic rating multiplier) there is inserted—

“

9A

(1)

A special authority’s small business non-domestic rating multiplier for a chargeable financial year shall be set by it in accordance with the formula—

$$\frac{A\times B}{C}$$

(2)

In sub-paragraph (1) above—

(a)

A is the special authority’s non-domestic rating multiplier for the year under paragraph 9 above,

(b)

B is the small business non-domestic rating multiplier for the year determined in accordance with Part 1 of this Schedule, and

(c)

C is the non-domestic rating multiplier for the year, so far as relating to England, determined in accordance with that Part.

(3)

The multiplier must be expressed as a figure in which a part of a whole (if any) is expressed to three decimal points only.”