Notional liabilityS
This section has no associated Policy Notes
8. The notional liability of any lands and heritages to which this Part applies on any day is to be calculated in accordance with the formula—
where—
RV is the rateable value of those lands and heritages on that day, and
PF is the poundage figure of —
(a)
0.559 where the lands and heritages have a rateable value exceeding £100,000,
(b)
0.545 where the lands and heritages have a rateable value exceeding £51,000 but not exceeding £100,000,
(c)
0.498 where the lands and heritages which have a rateable value of £51,000 or less.