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Paragraph 2 Altered hereditament: base liability for 1995-96

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

(1)

The base liability for the relevant year beginning in 1995 for an altered hereditament shall be found by applying the formula

Y×Z

where

  • Y is the amount mentioned in sub-paragraph (2), and

  • Z is the non-domestic rating multiplier for the financial year beginning in 1994.

(2)

The amount mentioned in this sub-paragraph is the value certified by the appropriate valuation officer to be the rateable value which would have been shown in the list for the hereditament for 31 March 1995 under paragraph 2(6) of Schedule 6 to the 1988 Act on the assumption that —

(a)

the hereditament had come into existence on 31 March 1995, and

(b)

the matters referred to in paragraph 2(7) of that Schedule as respects the hereditament were as they were assumed to be on the day on which it was shown for the first time in the list as mentioned in paragraph 1(c) of this Schedule.