Regulation 9 Transitional limit

Subject to paragraph (3), the transitional limit of any lands and heritages to which this Part applies, on any day, is to be calculated as follows—

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,

• PF is the poundage figure of—

  1. (a)

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

  2. (b)

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

  3. (c)

     0.498 where the lands and heritages have a rateable value of £51,000 or less, and

• X is—

  1. (a)

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

  2. (b)

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

  3. (c)

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

Where relief is granted under regulation 10B^f1 (relief granted – financial year 2025-2026- 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.