Paragraph 7 Change in value of new hereditament: year of creation

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

Sch.2, para.5(1) amended by Non-Domestic Rating (Chargeable Amounts) 1997 reg.3(1)(2)
Sch.2, para.5(3)(c) amended by Non-Domestic Rating (Chargeable Amounts) 1997 reg.3(1)(3)
Sch.2, para.5(5A)(5B) added by Non-Domestic Rating (Chargeable Amounts) 1997 reg.3(1)(4)
Sch.2, para.6(1) amended by Non-Domestic Rating (Chargeable Amounts) 1997 reg.3(1)(2)
Sch.2, para.6(3)(c) amended by Non-Domestic Rating (Chargeable Amounts) 1997 reg.3(1)(3)
Sch.2, para.6(5A)(5B) added by Non-Domestic Rating (Chargeable Amounts) 1997 reg.3(1)(4)
Sch.2, para.9(3) amended by Non-Domestic Rating (Chargeable Amounts) 1997 reg.3(1)(5)
Sch.2, para.9(3) amended by Non-Domestic Rating (Chargeable Amounts) 1995 reg.5
Sch.2, para.7(6) added by Non-Domestic Rating (Chargeable Amounts for Small Hereditaments) 1996 regs.4,10
Sch.2, para.8(4) added by Non-Domestic Rating (Chargeable Amounts for Small Hereditaments) 1996 regs.4,11

(1)

Sub-paragraph (2) applies in respect of a new hereditament in a year in which the creation day falls where for a chargeable day after the creation day the rateable value shown in the list for the hereditament is greater than that shown for it for the creation day.

(2)

Where this sub-paragraph applies, paragraphs 3 to 6 shall have effect as regards the hereditament for the chargeable day as if the reference in those paragraphs to

R \times \frac{J}{S}

were a reference to—

(\frac{R \times J}{S}) + \frac{(N - J) \times B}{C}

(3)

Sub-paragraph (4) applies in respect of a new hereditament in a year in which the creation day falls where for a chargeable day after the creation day the rateable value shown in the list for a hereditament is less than that shown for it for the creation day.

(4)

Where this sub-paragraph applies, paragraphs 3 to 6 shall have effect as regards the hereditament for the chargeable day as if the reference in those paragraphs to

R \times \frac{J}{S}

were a reference to—

(\frac{R \times J}{S}) + \frac{N}{J}

(5)

For the purposes of the provisions substituted by sub-paragraphs (2) and (4) —

(a)

B is the non-domestic rating multiplier for the relevant year in which the creation day falls, or, where the hereditament is situated in the area of a special authority, the non-domestic rating multiplier of the special authority;

(b)

C is the number of days in the relevant year in which the creation day falls;

(c)

N is the rateable value shown for the new hereditament for the chargeable day in the list; and

(d)

R, J and S have the meanings given in paragraphs 3, 4, 5 or 6, as the case may be.