Section 3 Application of multipliersI1

England and Wales

(1)

The Local Government Finance Act 1988 is amended as follows.

(2)

In Schedule 4ZA (chargeable amount for occupied hereditaments), in paragraph 10 (interpretation)—

(a)

in sub-paragraph (9)(a), for “whichever of B or D is” substitute “the multiplier”;

(b)

after sub-paragraph (9A) insert—

“(9B)

Regulations under sub-paragraph (9) may prescribe—

(a)

B or D,

(b)

in relation to a hereditament for a chargeable day for which the value of A is £500,000 or more, a higher multiplier for the financial year calculated in accordance with regulations under paragraph A6A (1)(a) or 9B (1)(a)(i) of Schedule 7, or

(c)

in relation to a qualifying retail, hospitality or leisure hereditament, a lower multiplier for the financial year calculated in accordance with regulations under paragraph A6A (1)(b) or 9B (1)(a)(ii) of that Schedule.

(9C)

In sub-paragraph (9B), “qualifying retail, hospitality or leisure hereditament” has such meaning as may be prescribed by the Treasury in regulations.”;

(c)

in sub-paragraph (10) after paragraph (e) insert—

“(ea)

the description of hereditaments in the local non-domestic rating list in which they are shown;”.

(3)

In Schedule 4ZB (chargeable amount for unoccupied hereditaments), in paragraph 3 (interpretation)—

(a)

in sub-paragraph (6)(a), for “whichever of B or D is” substitute “the multiplier”;

(b)

after sub-paragraph (6) insert—

“(6A)

Regulations under sub-paragraph (6) may prescribe—

(a)

B or D,

(b)

in relation to a hereditament for a chargeable day for which the value of A is £500,000 or more, a higher multiplier for the financial year calculated in accordance with regulations under paragraph A6A (1)(a) or 9B (1)(a)(i) of Schedule 7, or

(c)

in relation to a qualifying retail, hospitality or leisure hereditament, a lower multiplier for the financial year calculated in accordance with regulations under paragraph A6A (1)(b) or 9B (1)(a)(ii) of that Schedule.

(6B)

In sub-paragraph (6A), “qualifying retail, hospitality or leisure hereditament” has such meaning as may be prescribed by the Treasury in regulations.”;

(c)

in sub-paragraph (7) after paragraph (e) insert—

“(ea)

the description of hereditaments in the local non-domestic rating list in which they are shown;”.

(4)

In Schedule 5A (chargeable amount for central rating), in paragraph 6 (interpretation)—

(a)

in sub-paragraph (8)(a), for “whichever of B or D is” substitute “the multiplier”;

(b)

after sub-paragraph (8) insert—

“(8A)

Regulations under sub-paragraph (8) may prescribe—

(a)

B or D,

(b)

in relation to a hereditament for a chargeable day for which the value of A is £500,000 or more, a higher multiplier for the financial year calculated in accordance with regulations under paragraph A6A (1)(a) of Schedule 7, or

(c)

in relation to a qualifying retail, hospitality or leisure hereditament, a lower multiplier for the financial year calculated in accordance with regulations under paragraph A6A (1)(b) of that Schedule.

(8B)

In sub-paragraph (8A), “qualifying retail, hospitality or leisure hereditament” has such meaning as may be prescribed by the Treasury in regulations.”;

(c)

in sub-paragraph (9) after paragraph (e) insert—

“(ea)

the description of hereditaments in the local non-domestic rating list in which they are shown;”.

Annotations

Commencement

I1: S. 3 in force at Royal Assent but the amendments have effect in accordance with s. 6(1)