SCHEDULES

SCHEDULE 8 Non-Domestic Rating: Pooling

Part I Non-Domestic Rating Accounts

Credits and debits

C13

1

As soon as is reasonably practicable after the end of each chargeable financial year the F1Welsh Ministers shall calculate the following—

a

the aggregate of the items of account credited to the account kept for the year, and

b

the aggregate of the items of account debited to the account kept for the year.

2

If the aggregate mentioned in sub-paragraph (1)(a) above exceeds that mentioned in sub-paragraph (1)(b) above, a sum equal to the excess shall be—

a

debited (as an item of account) to the account kept for the year, and

b

credited (as an item of account) to the account kept for the next financial year.

3

If the aggregate mentioned in sub-paragraph (1)(b) above exceeds that mentioned in sub-paragraph (1)(a) above, a sum equal to the excess shall be—

a

credited (as an item of account) to the account kept for the year, and

b

debited (as an item of account) to the account kept for the next financial year.