Regulation 9 Changes in rateable value on or after 1st April 2007

Where, on or after 1st April 2007, the rateable value of lands and heritages to which this Part applies is increased with effect from a day in the relevant year (the “effective day”), the ARP shall not be payable and the amount payable as rates shall, as regards days in that year on and after the effective day, be calculated in accordance with the formula–

$$\mathrm{ARP}+\genfrac{}{}{0.1ex}{}{\left(\mathrm{IRV}-\mathrm{RV}\right)\times \mathrm{PF}}{366}$$

where–

• ARP has the same meaning as in regulation 7;

• IRV is the increased rateable value of those lands and heritages;

• RV is their rateable value immediately prior to the effective day; and

• PF is the poundage figure of 0.441.

Where the rateable value of lands and heritages to which this Part applies is reduced with effect from a day in the relevant year on or after 1st April 2007, as a result of–

the ARP shall not be payable but shall, as regards days in that year on and after that effective day, be calculated in accordance with the formula–

$$\genfrac{}{}{0.1ex}{}{\mathrm{ARP}\times \mathrm{RRV}}{\mathrm{RV}}$$

where–

• ARP and RV have the same meanings as in paragraph (1); and

• RRV is the reduced rateable value of those lands and heritages.