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Regulation 30 Notional chargeable amount for defined class of hereditaments

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

(1)

The notional chargeable amount for a relevant year for a defined class of hereditaments shall be found by applying the formula—

(A-RF)×B
(2)

For the purposes of this regulation—

  • A is the rateable value shown in the central list for the class of hereditaments for 1 April 1995;

  • B is the non-domestic rating multiplier for the relevant year;

  • RF is the recalculation factor for the class of hereditaments (subject to the provisions of paragraph (3)).

(3)

In a case where paragraph (4) applies, the recalculation factor for each class of hereditaments for the year beginning on 1 April 1994 shall be taken to be the recalculation factor in the rateable value order which applied for the class of hereditaments mentioned in paragraph (4)(a) in the most recent financial year for which there was such a factor.

(4)

This paragraph applies where —

(a)

a class of hereditaments was, before 1 April 1994, prescribed by regulations under section 53(1) of the Act (contents of central list) as respects one designated person,

(b)

a rateable value order was in force before 1 April 1994 in respect of that class,

(c)

for 1 April 1994, hereditaments comprised in the class mentioned in sub-paragraph (a) are comprised in two or more classes of hereditaments as respects two or more designated persons, and

(d)

the rateable value order made as respects each such class of hereditaments for the year beginning on 1 April 1994 made no provision for a recalculation factor to apply for that class for any year.