Regulation 5 Business rates baseline and baseline funding levelI1

the years commencing on 1st April 2014, 1st April 2015, 1st April 2016 F7, 1st April 2018, 1st April 2019, 1st April 2020, 1st April 2021 and 1st April 2022 is the amount calculated in accordance with the formula—

the year commencing on 1st April 2023 is the amount calculated in accordance with the formula—

Where—

• A is the baseline funding level for the F8preceding year;

• B₂ is the small business non-domestic rating multiplier for the relevant year;

• B₁ is the small business non-domestic rating multiplier for the preceding F9year;

F11a year falling within the period beginning with 1st April 2024 and ending with 31st March 2026 is the amount calculated in accordance with the formula—

where—

• A is the baseline funding level for the preceding year;

• B2 is the small business non-domestic rating multiplier for the relevant year;

• B1 is the small business non-domestic rating multiplier for the preceding year;

• C2 is the non-domestic rating multiplier for the relevant year;

• C1 is the non-domestic rating multiplier for the preceding year;

• D is—

  1. (i)

     in the case of a billing authority, the sum of the total rateable value of all small business hereditaments shown in the authority’s list on 1st April 2023;

  2. (ii)

     in the case of a major precepting authority, the sum of the total rateable value of all small business hereditaments shown on 1st April 2023 in the lists of all billing authorities in relation to that authority;

• E is—

  1. (i)

     in the case of a billing authority, the sum of the total rateable value of standard hereditaments shown in the authority’s list on 1st April 2023;

  2. (ii)

     in the case of a major precepting authority, the sum of the total rateable value of all standard hereditaments shown on 1st April 2023 in the lists of all billing authorities in relation to that authority on 1st April 2023.

the year commencing on 1st April 2026 is the amount specified for that authority in the table in Schedule 8;

a year commencing on or after 1st April 2027 is the amount calculated in accordance with the formula—

where—

• “A” is the baseline funding level for the preceding year;

• “B” is the consumer prices index for September of the preceding financial year;

• “C” is the consumer prices index for September of the financial year which precedes that preceding the year concerned.

for the year commencing on 1st April 2018 is £1,478,412;

for the year commencing on 1st April 2019 is £1,526,779.

the business rates baseline of the authority—

the baseline funding level for the authority for a year is to be the sum of the individual baseline funding levels for the year of the authorities that comprise the pool.