Paragraph 8 Notional chargeable amount for new hereditament

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)

This paragraph applies for determining the notional chargeable amount for a new hereditament for a relevant year falling after the year in which the creation day falls.

(2)

Where this paragraph applies, the relevant notional chargeable amount for a hereditament shall be found by applying the formula

J \times B

(3)

For the purposes of this paragraph —

(a)

J is the rateable value shown in the list for the new hereditament for the creation day, and

(b)

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