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Paragraph 6 Changes in the value of new hereditament: ... relevant year of creationF3I1

England and Wales

(1)

Sub-paragraph (2) applies in respect of a new hereditament in F1a relevant year in which the creation day falls where for a chargeable day after the creation day the rateable value shown in a list for the hereditament is greater than the rateable value shown for the creation day.

(2)

Where this sub-paragraph applies, paragraphs 2 to 5 have effect as regards the hereditament for the chargeable day as if the reference in those paragraphs to—

R×JS

were a reference to—

R×JS+N-J×BC
(3)

Sub-paragraph (4) applies in respect of a new hereditament in F2a relevant year in which the creation day falls where for a chargeable day after the creation day the rateable value shown in a list for a hereditament is less than the rateable value shown in a list for the creation day.

(4)

Where this sub-paragraph applies, paragraphs 2 to 5 have effect as if the reference in those paragraphs to—

R×JS

were a reference to—

R×J×NS×J
(5)

For the purposes of sub-paragraphs (2) and (4)—

  • B is the non-domestic rating multiplier for the relevant year in which the creation day falls;

  • C is the number of days in the relevant year in which the creation day falls;

  • N is the rateable value shown in a list for the new hereditament for the chargeable day; and

  • R, J and S have the same meanings given by paragraph 2, 3, 4 or 5.

Annotations

Textual amendments

F1

Word in Sch. para. 6(1) substituted (26.10.2023) by Non-Domestic Rating Act 2023 (c. 53), s. 19(1)(c), Sch. para. 31(6)(b)

F2

Word in Sch. para. 6(3) substituted (26.10.2023) by Non-Domestic Rating Act 2023 (c. 53), s. 19(1)(c), Sch. para. 31(6)(b)

F3

Word in Sch. para. 6 heading omitted (26.10.2023) by virtue of Non-Domestic Rating Act 2023 (c. 53), s. 19(1)(c), Sch. para. 31(6)(a)

Commencement

I1

Sch. para. 6 in force at 23.12.2022, see reg. 2(2)