Amount payable as rates – lands and heritages with rateable value more than £51,000
4.—(1) This regulation applies to lands and heritages on any day in the relevant year when they have a rateable value exceeding £51,000.
(2) The relevant year for the purposes of this regulation is the financial year 2017-2018.
(3) The additional amount payable as rates under these Regulations in respect of lands and heritages for a day in the relevant year on which this regulation applies to them is to be calculated in accordance with the formula—
Where—
AARP is the additional amount of rates payable;
RV is the rateable value of the lands and heritages on that day;
S is the additional factor of 0.026; and
D is the number of days in the relevant year.