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The Non-Domestic Rating (Levy and Safety Net) Regulations 2013
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- UK Statutory Instruments
- 2013 No. 737
- Regulation 10
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Requirement to make levy payment
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10.—(1) An authority must make a levy payment to the Secretary of State in respect of a year where the following conditions are met—
(a)the authority’s individual levy rate is a positive number greater than zero; and
(b)the authority’s retained rates income for the relevant year is greater than its baseline funding level for that year.
(2) The amount of the levy payment is to be the amount calculated in accordance with the formula—
Where—
E is the authority’s individual levy rate;
F is the authority’s retained rates income for the relevant year;
G is the authority’s baseline funding level for the relevant year.
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