Paragraph 2 I1

Where this Schedule applies, the notional 31st March 2013 rateable value is the amount calculated in accordance with the formula—

$$\left(R+S+T-U\right)\times \left(\genfrac{}{}{0.1ex}{}{V}{W}\right)$$

where—

• R is the total rateable value shown in a local non-domestic rating list for 31st March 2013 of any old hereditament which was capable of falling within class B on the day immediately preceding the creation day;

• S is the total notional 31st March 2013 rateable value of any old hereditament which was capable of falling within class C on the day immediately preceding the creation day;

• T is the total rateable value shown in a local non-domestic rating list for the day immediately preceding the creation day of any old hereditament which was—

  1. (a)

     capable of falling within class D or E; or

  2. (b)

     not capable of falling within a designated class;

     on the day immediately preceding the creation day;

• U is the amount certified by a relevant valuation officer under these Regulations in respect of any old hereditament for the day immediately preceding the creation day;

• V is the rateable value shown in a local non-domestic rating list for the creation day of the new hereditament which falls within class C;

• W is the total rateable value shown for the creation day of all new hereditaments created from the old hereditament.