Regulation 4 Notional chargeable amount

(1)

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

A \times B

(2)

For the purposes of this regulation —

(a)

A is the rateable value shown for the hereditament for 1 April 1995 in the list, and

(b)

B is the non-domestic rating multiplier for the relevant year.

(3)

Where regulation 14 (change in rateable value change of circumstances on 1 April 1995) applies, this regulation applies subject to the modifications made in that regulation.

(4)

For a hereditament to which Schedule 1 (altered hereditaments) applies, paragraph 3 of that Schedule applies for finding the notional chargeable amount.

(5)

For a hereditament to which Schedule 2 (splits and mergers) applies, paragraph 8 of that Schedule applies for finding the notional chargeable amount.

(6)

For a hereditament to which Schedule 3 (class of central list hereditaments splitting from 1 April 1995) applies, paragraph 8 of that Schedule applies for finding the notional chargeable amount.