33 Calculation of basic amount of tax.E+W
(1)In relation to each financial year a billing authority shall calculate the basic amount of its council tax by applying the formula—
where—
R is the amount calculated (or last calculated) by the authority under section 32(4) above as its budget requirement for the year;
P is the aggregate of the sums which the authority estimates will be payable for the year into its general fund in respect of redistributed non-domestic rates, revenue support grant or additional grant;
T is the amount which is calculated by the authority as its council tax base for the year and, where one or more major precepting authorities have power to issue precepts to it, is notified by it to those authorities (“the major precepting authorities concerned") within the prescribed period.
(2)Where the aggregate calculated (or last calculated) by the authority for the year under subsection (2) of section 32 above does not exceed that so calculated under subsection (3) of that section, the amount for item R in subsection (1) above shall be nil.
(3)The aggregate of the sums mentioned in item P in subsection (1) above shall be—
(a)increased by the amount of any sum which the authority estimates will be transferred in the year from its collection fund to its general fund in accordance with subsection (3) of section 97 of the 1988 Act; or
(b)reduced by the amount of any sum which the authority estimates will be transferred in the year from its general fund to its collection fund in accordance with subsection (4) of that section.
(4)Regulations under section 32(9) above may make such consequential alterations of the constituents of any calculation required by item P in subsection (1) above or subsection (3) above (whether by adding, deleting or amending items) as appear to the Secretary of State to be necessary or expedient.
(5)The Secretary of State shall make regulations containing rules for making for any year the calculation required by item T in subsection (1) above; and a billing authority shall make the calculation for any year in accordance with the rules for the time being effective (as regards the year) under the regulations.
(6)Regulations prescribing a period for the purposes of item T in subsection (1) above may provide that, in any case where a billing authority fails to notify its calculation to the major precepting authorities concerned within that period, that item shall be determined in the prescribed manner by such authority or authorities as may be prescribed.