The Non-Domestic Rating (Northern Line Extension) Regulations 2015 No. 354

SCHEDULE 2 Rules for calculation of the amount to be disregarded

PART 3 Calculation of the amount deducted from non-domestic rating income

3.—(1) If the specified year is not a year in which local lists must be compiled, the amount to be calculated for the purposes of paragraph 1(1)(b) in relation to the authority for the year in respect of the area is that described in sub-paragraph (2) or (3) (as the case may be).

(2) For the year beginning on 1st April 2016, that amount is calculated in accordance with the formula—

where—

• J is the figure provided in column 3 of the table in Schedule 1 in relation to the designated area;

• K₂ is the small business non-domestic rating multiplier for the year beginning on 1st April 2016; and

• K₁ is the small business non-domestic rating multiplier for the year beginning on 1st April 2014.

(3) For a subsequent specified year which is not a year in which local lists must be compiled, that amount is calculated in accordance with the formula—

where—

• L is the amount calculated in accordance with sub-paragraph (2), this sub-paragraph or paragraph 4(2), as the case may be, for the preceding year;

• M₂ is the small business non-domestic rating multiplier for the specified year concerned; and

• M₁ is the small business non-domestic rating multiplier for the preceding year.