Paragraph 7 Notional chargeable amount for new hereditament

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch 2, paras 2–5 am by Non-Domestic Rating (Chargeable Amounts) 2005 regs 2, 4
Sch. 2 para. 4(1)(d) and word inserted by Local Government (Non-Domestic Rating) 2008 Sch. para. 3(d)(i)(aa)
Sch. 2 para. 4(1) words substituted by Local Government (Non-Domestic Rating) 2008 Sch. para. 3(d)(i)(bb)
Sch. 2 para. 4(9)(10) substituted by Local Government (Non-Domestic Rating) 2008 Sch. para. 3(d)(ii)
Sch. 2 para. 5(1)(d) and word inserted by Local Government (Non-Domestic Rating) 2008 Sch. para. 3(e)(i)(aa)
Sch. 2 para. 5(1) words substituted by Local Government (Non-Domestic Rating) 2008 Sch. para. 3(e)(i)(bb)
Sch. 2 para. 5(9)(10) substituted by Local Government (Non-Domestic Rating) 2008 Sch. para. 3(e)(ii)

(1)

This paragraph applies for determining the notional chargeable amount for a new hereditament for a relevant year falling after the year in which the creation day falls.

(2)

Where this paragraph applies, the relevant notional chargeable amount shall be found by applying the formula

J \times D,

where—

J is the rateable value shown in the local or central list for the new hereditament for the creation day; and
D is the small business non-domestic rating multiplier for the relevant year.