Regulation 16 Amount payable as rates

(1)

This regulation applies to lands and heritages on any day in the relevant year when–

(a)

they have a rateable value exceeding £25,000; and

(b)

they are not lands and heritages–

(i)

to which Part II or Part III above applies; or

(ii)

which have their rateable value prescribed in an order made under section 6 of the 1975 Act.

(2)

The amount payable as rates in respect of lands and heritages and a day on which this regulation applies to them shall be calculated in accordance with the formula–

ARP = \frac{RV (PR + S)}{366}

where–

ARP is the amount of rates payable;
RV is the rateable value of the lands and heritages on that day;
PR is the poundage rate of 0.478; and
S is the additional factor of 0.006.