Regulation 8 Notional liabilityI1

The notional liability of any lands and heritages to which this Part applies, on any day, is to be calculated in accordance with the formula—

$$\frac{RV\times PF}{365}$$

where—

• RV is the rateable value of those lands and heritages on that day, and

• PF is the poundage figure of—

  1. (a)

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

  2. (b)

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

  3. (c)

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