Regulation 9 Base liability for 2024-25 and 2025-26F1I1

Subject to paragraph (2), the base liability for a defined hereditament for a relevant year beginning on 1st April 2024 or 1st April 2025 (“the year concerned”) is found by applying the formula—

where—

• BL is the base liability for the hereditament for the relevant year immediately preceding the year concerned, and

• AF is the appropriate fraction, as found in accordance with regulation 10, for the relevant year immediately preceding the year concerned.

For a defined hereditament to which the Schedule (splits and mergers) applies, paragraphs 8 and 9 of that Schedule have effect for finding the base liability.