Amendment of the Schedule6

1

 The Schedule (calculation of the sub-liability) is amended as follows.

2

In paragraph 2—

a

for the definition of “assumed debt” substitute—

  • “assumed debt” is an amount calculated in accordance with paragraph 4A;

b

for the definition of “local authority share cap” substitute—

  • “local authority share cap” is an amount calculated in accordance with paragraph 4B;

c

for the definition of “previous quarter” substitute—

  • “previous financial year” means the financial year before the relevant financial year;

d

omit the definition of “quarter 1”;

e

omit the definition of “sub-liability”;

f

at the appropriate places insert—

  • “pooling period” means one of the following periods—

    1. a

      a quarter beginning before 1st April 2021;

    2. b

      a financial year beginning on or after 1st April 2021;

  • “pooling period 1” means the period from 1st April 2012 to 30th June 2012;

  • “quarter” means one of the following periods—

    1. a

      1st April to 30th June;

    2. b

      1st July to 30th September;

    3. c

      1st October to 31st December;

    4. d

      1st January to 31st March;

  • “relevant financial year” means, in relation to the calculation of the sub-liability, the financial year to which the calculation relates;

3

In paragraph 3—

a

for “relevant quarter”, in each place it occurs, substitute “relevant financial year”;

b

in sub-paragraph (2), for “previous quarter”, in both places it occurs, substitute “previous financial year”.

4

In paragraph 4—

a

for “relevant quarter”, in each place it occurs, substitute “relevant financial year”;

b

for “previous quarter”, in each place it occurs, substitute “previous financial year”;

c

in the definition of the term C—

i

for “each quarter” substitute “each pooling period”;

ii

for “quarter 1” substitute “pooling period 1”;

d

in the definition of the term F, for “quarters”, in both places it occurs, substitute “pooling periods”;

e

in the definition of the term F**—

i

for “each quarter” substitute “each pooling period”;

ii

for “quarter 1” substitute “pooling period 1”;

f

in the definition of the term L**, for “paragraph 9; and” substitute “paragraph 9(1);”;

g

in the definition of the term M, at the end insert “; and”;

h

after the definition of the term M insert—

  • N* means the assumed debt for the previous financial year;

  • O* means the local authority share cap for the previous financial year;

  • P has the meaning set out in paragraph 9(2);

  • P* means the value of P for the previous financial year.

5

After paragraph 4 insert—

4A

The assumed debt is—

a

in the financial year beginning on 1st April 2021, the amount of debt assumed to be associated with a local authority in that year as set out in Table A in this Schedule; and

b

in each subsequent financial year—

N*×1.01math

4B

The local authority share cap is—

a

in the financial year beginning on 1st April 2021, the amount attributable to an authority set out in Table B in this Schedule; and

b

in each subsequent financial year—

O*×1.01math

.

6

In paragraph 8—

a

omit sub-paragraph (a);

b

in sub-paragraph (b), omit the words from “in quarters other than quarter 1—”.

7

For paragraph 9 substitute—

9

1

L** means—

183,000,000÷Pmath

2

P means—

a

in the financial year beginning on 1st April 2021, 77,988,112.73;

b

in each subsequent financial year—

N*×1.01math

.

8

In paragraph 10—

a

omit sub-paragraph (a);

b

in sub-paragraph (b), omit the words from “in any” to “2013—”.

9

For Table A substitute the table in Schedule 1.

10

For Table B substitute the table in Schedule 2.