Paragraph 4 Calculation for billing authoritiesF1

(1)

The retained rates income of an authority that is a billing authority is the sum of—

(a)

the amount calculated in accordance with the formula in paragraph 1(1) of Schedule 1; and

(b)

the amount calculated in accordance with sub-paragraph (2) below.

(2)

Subject to sub-paragraph (3), the amount mentioned in sub-paragraph (1)(b) is whichever is the smaller of the amounts calculated in accordance with sub-paragraphs (4) and (5).

(3)

Where either of the amounts calculated in accordance with sub-paragraphs (4) or (5) is zero, or less than zero, the amount mentioned in sub-paragraph 1(b) is zero.

(4)

The amount is calculated in accordance with the formula—

(A (B - C - D + E) + (F - f1 - f2) - (G - g1 - g2) + (H - h 1) - (J - j 1) + (K - L + M - N + P - Q)) \times 0.75

(5)

The amount is calculated in accordance with the formula—

A (B - R + S - T) \times 0.75

Annotations

Textual amendments

F1: Sch. 1B inserted (26.2.2022) by The Non-Domestic Rating (Levy and Safety Net) (Amendment) Regulations 2022 (S.I. 2022/189), reg. 1(1), Sch. 1