PART 4 E+W Prescribed rules

Rules for finding the chargeable amount E+W

11.  For the purpose of section 58(3)(a) of the Act, the chargeable amount for a defined hereditament to which regulation 8 applies (cases that fall within the prescribed description) is to be found in accordance with the rules prescribed in regulations 12 to 17.

Commencement Information

I1 Reg. 11 in force at 31.12.2016, see reg. 1(2)

12.  The chargeable amount for a relevant day is the amount calculated in accordance with section 43 or 45 of the Act as appropriate, less the amount calculated under whichever of regulations 14 to 17 applies.

Commencement Information

I2 Reg. 12 in force at 31.12.2016, see reg. 1(2)

13.  If the result of reducing the chargeable amount in accordance with the rules in regulations 14 to 17 is to produce a negative figure, the chargeable amount is zero.

Commencement Information

I3 Reg. 13 in force at 31.12.2016, see reg. 1(2)

Financial year commencing on 1 April 2017 E+W

14.  In the financial year commencing on 1 April 2017, the chargeable amount is reduced by an amount calculated by applying the formula—

Commencement Information

I4 Reg. 14 in force at 31.12.2016, see reg. 1(2)

Financial year commencing on 1 April 2018 E+W

15.  In the financial year commencing on 1 April 2018, the chargeable amount is reduced by an amount calculated by applying the formula—

Commencement Information

I5 Reg. 15 in force at 31.12.2016, see reg. 1(2)

Financial year commencing on 1 April 2019 E+W

16.  In the financial year commencing on 1 April 2019, the chargeable amount is reduced by an amount calculated by applying the formula—

Commencement Information

I6 Reg. 16 in force at 31.12.2016, see reg. 1(2)

Financial years commencing on 1 April 2020 and 1 April 2021 E+W

17.  In the financial years commencing on 1 April 2020 and 1 April 2021 the chargeable amount is reduced by zero.

Commencement Information

I7 Reg. 17 in force at 31.12.2016, see reg. 1(2)