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Regulation 24 Central list hereditament case for which regulation 25 determines chargeable amount

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

(1)

Regulation 25 applies to a defined central list hereditament for a chargeable day which is a relevant day (the day concerned) if —

(a)

a chargeable amount for the day concerned would, but for these Regulations, fall to be determined under section 54 of the Act, and

(b)

NCA is

(i)

greater than BL and greater than (BL × AF), or

(ii)

less than BL and less than (BL × AF).

(2)

For the purposes of this regulation —

(a)

NCA is the notional chargeable amount for the hereditament for the relevant year within which the day concerned falls,

(b)

BL is the base liability for the hereditament for the relevant year within which the day concerned falls,

(c)

AF is the appropriate fraction for the hereditament for the relevant year within which the day concerned falls.