{
  "url": "https://openlegislation.uk/local-government-finance-act-1988/schedule-7B/paragraph-3",
  "json_url": "https://openlegislation.uk/local-government-finance-act-1988/schedule-7B/paragraph-3.json",
  "legislation": "ukpga/1988/41",
  "legislation_title": "Local Government Finance Act 1988",
  "legislation_url": "https://openlegislation.uk/local-government-finance-act-1988",
  "path": "schedule/7B/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": "End of year calculations",
  "text": "(1) As soon as is reasonably practicable after the end of each year, the Secretary of State must calculate—\n(a) the aggregate of the items of account credited to the main non-domestic rating account kept for the year, and\n(b) the aggregate of the items of account debited to the main non-domestic rating account kept for the year.\n(2) If the aggregate mentioned in sub-paragraph (1)(a) exceeds that mentioned in sub-paragraph (1)(b), an amount equal to the excess must be—\n(a) debited (as an item of account) to the main non-domestic rating account kept for the year, and\n(b) credited (as an item of account) to the main non-domestic rating account kept for the next year.\n(3) If the aggregate mentioned in sub-paragraph (1)(b) exceeds that mentioned in sub-paragraph (1)(a), an amount equal to the excess must be—\n(a) credited (as an item of account) to the main non-domestic rating account kept for the year, and\n(b) debited (as an item of account) to the main non-domestic rating account kept for the next year.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 7B inserted (with effect in accordance with s. 1(6) of the amending Act) by Local Government Finance Act 2012 (c. 17), s. 1(4), Sch. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/41/schedule/7B/paragraph/3",
    "retrieved_at": "2026-10-29T09:47:47.629286+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}