# The Non-Domestic Rating (Rates Retention: Miscellaneous Amendments) Regulations 2023, Regulation 3: Amendment of the Non-Domestic Rating (Rates Retention) Regulations 2013


In the Non-Domestic Rating (Rates Retention) Regulations 2013, for paragraph 1(2)(b) of Schedule 1 (non-domestic rating income) substitute—
“(b) X, where the value of X—
(i) for the financial year beginning on 1st April 2013 is £10,538,000;
(ii) for the financial year beginning on 1st April 2023 is £12,515,000;
(iii) for any other year is determined by the formula—
X1×S2S1 Where—
X1 is the value of X for the preceding year;
S2 is the small business non-domestic rating multiplier for the relevant year;
S1 is the small business non-domestic rating multiplier for the preceding year.”.

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Source: https://www.legislation.gov.uk/uksi/2023/268/regulation/3 (the official version)
Page: https://openlegislation.uk/non-domestic-rating-rates-retention-miscellaneous-amendments-regulations-2023/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.