# Local Government Finance Act 1988, Paragraph 3


(1) The notional chargeable amount for a hereditament for each day in a relevant year shall be found by applying the formula—
A x BC
(2) A is the rateable value shown for the hereditament for 1 April 1990 in the local non-domestic rating list.
(3) Subject to sub-paragraph (4) below, B is the non-domestic rating multiplier for the relevant year concerned.
(4) Where the hereditament is situated in the area of a special authority, B is the authority’s non-domestic rating multiplier for the relevant year concerned.
(5) C is the number of days in the relevant year concerned.
(6) Relevant years are financial years falling in the transitional period.

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Source: https://www.legislation.gov.uk/ukpga/1988/41/schedule/7A/paragraph/3 (the official version)
Page: https://openlegislation.uk/local-government-finance-act-1988/schedule-7A/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.