Section A14 — Local Government Finance Act 1988: Calculation of non-domestic rating multiplier: revaluation years

Calculation of non-domestic rating multiplier: revaluation years A14 1 The non-domestic rating multiplier for a revaluation year is to be calculated in accordance with the formula— A × B × D C × E.

2 In sub-paragraph (1)—

a “A” is the non-domestic rating multiplier for the financial year preceding the year concerned;

b “B” is the consumer prices index for September of the financial year preceding the year concerned;

c “C” is—

i the consumer prices index for September of the financial year which precedes that preceding the year concerned, or ii where the base month for the consumer prices index for September of the financial year which precedes that preceding the year concerned (the first year) differs from that for the index for September of the year which precedes the year concerned (the second year), the figure which the Welsh Ministers calculate would have been the consumer prices index for September of the first year if the base month for that index had been the same as the base month for the index for September of the second year;

d “D” is the number of whole pounds in the Welsh Ministers’ estimate of the total of the appropriate rateable values of all appropriate hereditaments, where—

i appropriate rateable values are those which will be shown in lists for the last day of the financial year preceding the year concerned once all alterations to those lists have been made, and ii appropriate hereditaments are those which will be shown in lists for that day once all alterations to those lists have been made;

e “E” is the number of whole pounds in the Welsh Ministers’ estimate of the total of the appropriate rateable values of all appropriate hereditaments, where—

i appropriate rateable values are those which will be shown in lists for the first day of the financial year concerned once all alterations to those lists have been made (including rateable values which will be shown in lists for a later day as a result of any alterations of the lists because of the inaccuracy of the lists for that first day),

and ii appropriate hereditaments are those which will be shown in lists for that first day once all alterations to those lists have been made.

3 The Welsh Ministers must make estimates under sub-paragraph (2)(d) and (e) on the basis of information available to them on such date as they determine.

4 But this paragraph does not apply for the purposes of—

a Schedules 4ZA and 4ZB, in respect of a hereditament of a description specified in regulations under paragraph A16(1)(a);

b Schedule 5A, in respect of an amount of a rateable value shown against the name of a designated person in the central non-domestic rating list specified in regulations under paragraph A16(1)(b).