Regulation 8 Amendment of regulation 17

for the formula which appears immediately after the opening words substitute—

“”;

$$(E - (N - P\left)\right) \times (Q / H) \times R$$

after the definition of “H” insert—

• ““R” is—

  1. (a)

     for a relevant year ending on or before 31st March 2026, 1;

  2. (b)

     for a relevant year beginning on or after 1st April 2026, the relevant multiplier ratio in respect of the hereditament for the day.”.