Regulation 9 Transitional limitI1

Subject to paragraph (3), in respect of lands and heritages to which this Part applies on any day—

For the purposes of paragraph (1)—

• BL is the base liability of the lands and heritages, calculated in accordance with regulation 10,

• CRV is the rateable value of the lands and heritages on the day with reference to which the transitional limit is calculated,

• RV is the rateable value of the lands and heritages entered in the roll at revaluation on 1 April 2023,

• F1PF is the poundage figure of—

  1. (a)

     0.524 where the lands and heritages have a rateable value exceeding £100,000,

  2. (b)

     0.511 where the lands and heritages have a rateable value exceeding £51,000 but not exceeding £100, 000, or

  3. (c)

     0.498 in any other case,

• F2X is—

  1. (a)

     1.125 where at revaluation on 1 April 2023 the lands and heritages have a rateable value of £20,000 or less,

  2. (b)

     1.250 where at revaluation on 1 April 2023 the lands and heritages have a rateable value between £20,001 and £100,000, or

  3. (c)

     1.375 where at revaluation on 1 April 2023 the lands and heritages have a rateable value of more than £100,000.

Where relief is granted under regulation 10 (relief granted – lands and heritages in respect of which a relevant increase has been made within the previous 12 months) of the new and improved property relief Regulations the transitional limit is calculated in accordance with paragraph (5) of that regulation.