Regulation 15 Amount payable as rates

(1)

This regulation applies to lands and heritages on any day in the relevant year when they have a rateable value exceeding £29,000.

(2)

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

AARP = \frac{(RV \times S)}{366}

where–

AARP is the additional amount of rates payable;
RV is the rateable value of the lands and heritages on that day;
S is the additional factor of 0.003.