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Paragraph 4 Notional chargeable amount for split 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 split class of hereditaments shall be found by applying the formula—

(A-RF+SJ)×B
(2)

For the purposes of this paragraph —

(a)

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

(b)

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

(c)

SJ is the total of the rateable values shown for 1 April 1995 in local non-domestic rating lists for all the former central list hereditaments included in the former class in relation to the split class of hereditaments; and

(d)

RF is the recalculation factor for the former class.