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Paragraph 7 Notional chargeable amount for new hereditament ...F2I1

England and Wales

(1)

This paragraph applies for determining the notional chargeable amount for a new hereditament for F1a relevant year falling after the year in which the creation day falls.

(2)

Where this paragraph applies, the relevant notional chargeable amount is found by applying the formula—

J×D

where—

  • J is the rateable value shown in a list for the new hereditament for the creation day; and

  • D is the small business non-domestic rating multiplier for the relevant year.

Annotations

Textual amendments

F1

Word in Sch. para. 7(1) substituted (26.10.2023) by Non-Domestic Rating Act 2023 (c. 53), s. 19(1)(c), Sch. para. 31(7)(b)

F2

Words in Sch. para. 7 heading omitted (26.10.2023) by virtue of Non-Domestic Rating Act 2023 (c. 53), s. 19(1)(c), Sch. para. 31(7)(a)

Commencement

I1

Sch. para. 7 in force at 23.12.2022, see reg. 2(2)