Valid from 18/10/2017
Valid from 01/04/2018
This section has no associated Explanatory Notes
31E+WThe NPV of the rent payable over the term of a lease is calculated by applying the following formula—
Figure 8 where—
ri is the rent payable in respect of year i,
i is the first, second, third etc. year of the term of the lease,
n is the term of the lease, and
T is the temporal discount rate (see paragraph 32).