# The Non-Domestic Rating (Miscellaneous Provisions) (Amendment) (England) Regulations 2004, Note: Explanatory note


(This note is not part of the Regulations)
Regulation 2 of the Non-Domestic Rating (Miscellaneous Provisions) (No. 2) Regulations 1989 makes provision in relation to valuation of non-domestic property by reference to the notional cost of constructing or providing a hereditament (“the contractor’s basis”), which is applied where there is no more direct evidence of rental value. Regulation 2 specifies the annual percentage rate to be applied in relation to the notional cost of construction. These Regulations amend that regulation, as respects England, in respect of hereditaments shown in a rating list prepared on or after 1st April 2005 by providing for the annual percentage to be 3.33% in the case of certain defence, educational or healthcare hereditaments and 5% in other cases.
A Regulatory Impact Assessment has been prepared and is available on the website of the Office of the Deputy Prime Minister (www.odpm.gov.uk), and copies can be obtained from the Business Rates Team of the Office of the Deputy Prime Minister, Eland House, Bressenden Place, London SW1P 5DG. Copies have also been placed in the libraries of both Houses of Parliament.

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Source: https://www.legislation.gov.uk/uksi/2004/1494/note (the official version)
Page: https://openlegislation.uk/non-domestic-rating-miscellaneous-provisions-amendment-england-regulations-2004/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.