3

1

In relation to England, the small business non-domestic rating multiplier for a chargeable financial year shall be calculated in accordance with this paragraph if the year is not one at the beginning of which new lists must be compiled.

2

An amount shall be found in accordance with the formula—

$\genfrac{}{}{0.1ex}{}{A\times B}{C}$

3

Subject to sub-paragraph (5) below, that amount may be adjusted by the Secretary of State to reflect the extent to which his last estimate of the total mentioned in paragraph 5(6) or (7) below appears to him to differ from the actual total.

4

The amount under sub-paragraph (2) above or, if an adjustment is made under sub-paragraph (3) above, the adjusted amount shall be the small business non-domestic rating multiplier for the year.

5

No adjustment may be made under sub-paragraph (3) above for a chargeable financial year beginning before 2006.

3A

1

In relation to England, the non-domestic rating multiplier for a chargeable financial year shall be calculated in accordance with this paragraph if the year is not one at the beginning of which new lists must be compiled.

2

The non-domestic rating multiplier for the year shall be the amount found by—

a

increasing the small business non-domestic rating multiplier for the year under paragraph 3 above to reflect the Secretary of State’s estimate of the difference between—

i

the aggregate amount which will be payable to him and all billing authorities by way of non-domestic rates as regards the year, and

ii

the aggregate amount which would be so payable if section 43(4A) to (4D) above were omitted, and

b

if the Secretary of State thinks fit, adjusting the amount found under paragraph (a) above to reflect the extent (if any) to which his estimate of the difference mentioned in that paragraph for an earlier financial year appears to him to differ from the actual difference for that earlier year.

3B

1

In relation to Wales, the non-domestic rating multiplier for a chargeable financial year shall be calculated in accordance with this paragraph if the year is not one at the beginning of which new lists must be compiled.

2

An amount shall be found in accordance with the formula—

$\genfrac{}{}{0.1ex}{}{A\times B}{C}$

3

Subject to sub-paragraph (5) below, that amount may be adjusted by the National Assembly for Wales to reflect the extent to which its last estimate of the total mentioned in paragraph 5(6) or (7) below appears to it to differ from the actual total.

4

The amount under sub-paragraph (2) above or, if an adjustment is made under sub-paragraph (3) above, the adjusted amount shall be the non-domestic rating multiplier for the year.

5

No adjustment may be made under sub-paragraph (3) above for a chargeable financial year beginning before 2006.

4

In relation to England, the small business non-domestic rating multiplier for a chargeable financial year shall be calculated in accordance with the following formula if the year is one at the beginning of which new lists must be compiled—

$\genfrac{}{}{0.1ex}{}{A\times B\times D}{C\times E}$

4A

1

In relation to England, the non-domestic rating multiplier for a chargeable financial year shall be calculated in accordance with this paragraph if the year is one at the beginning of which new lists must be compiled.

2

The non-domestic rating multiplier for the year shall be the amount found by—

a

increasing the small business non-domestic rating multiplier for the year under paragraph 4 above to reflect the Secretary of State’s estimate of the difference between—

i

the aggregate amount which will be payable to him and all billing authorities by way of non-domestic rates as regards the year, and

ii

the aggregate amount which would be so payable if section 43(4A) to (4D) above were omitted, and

b

if the Secretary of State thinks fit, adjusting the amount found under paragraph (a) above to reflect the extent (if any) to which his estimate of the difference mentioned in that paragraph for an earlier financial year appears to him to differ from the actual difference for that earlier year.

4B

In relation to Wales, the non-domestic rating multiplier for a chargeable financial year shall be calculated in accordance with the following formula if the year is one at the beginning of which new lists must be compiled —

$\genfrac{}{}{0.1ex}{}{A\times B\times D}{C\times E}$

2

In relation to England, A is the small business non-domestic rating multiplier for the financial year preceding the year concerned (or, if there is no such multiplier for that year, A is the non-domestic rating multiplier for that year).

2A

In relation to Wales, A is the non-domestic rating multiplier for the financial year preceding the year concerned.

6

D is the number of whole pounds in the Secretary of State’s or, as the case may be, the National Assembly for Wales' estimate of the total of the appropriate rateable values of all appropriate hereditaments, where—

a

appropriate rateable values are those which will be shown in lists for the last day of the financial year preceding the year concerned once all alterations to those lists have been made;

b

appropriate hereditaments are those which will be shown in lists for that day once all alterations to those lists have been made.

7

E is the number of whole pounds in the Secretary of State’s or, as the case may be, the National Assembly for Wales' estimate of the total of the appropriate rateable values of all appropriate hereditaments, where—

a

appropriate rateable values are those which will be shown in lists for the first day of the financial year concerned once all alterations to those lists have been made;

b

appropriate hereditaments are those which will be shown in lists for that first day once all alterations to those lists have been made.

7A

The reference in sub-paragraph (7)(a) above to rateable values which will be shown in lists for the first day of the financial year concerned once all alterations to those lists have been made includes a reference to rateable values which will be shown in lists for a later day as a result of any alterations of the lists because of the inaccuracy of the lists for that first day.

1

In relation to England, the Secretary of State shall calculate the small business non-domestic rating multiplier and the non-domestic rating multiplier for a chargeable financial year and, as soon as is reasonably practicable after doing so, shall serve on each billing authority a notice stating the multipliers as so calculated.

1A

In relation to Wales, the National Assembly for Wales shall calculate the non-domestic rating multiplier for a chargeable financial year and, as soon as is reasonably practicable after doing so, shall serve on each billing authority a notice stating the multiplier as so calculated.

1B

The notice must show how any calculation has been made and contain details of any estimates or adjustments that have been made.

3

Where the financial year is one at the beginning of which new lists must be compiled, the notice must specify the date determined under paragraph 5(10) above for the purpose of making estimates under paragraph 5(6) and (7) above.

9A

1

A special authority’s small business non-domestic rating multiplier for a chargeable financial year shall be set by it in accordance with the formula—

$\genfrac{}{}{0.1ex}{}{A\times B}{C}$

2

In sub-paragraph (1) above—

a

A is the special authority’s non-domestic rating multiplier for the year under paragraph 9 above,

b

B is the small business non-domestic rating multiplier for the year determined in accordance with Part 1 of this Schedule, and

c

C is the non-domestic rating multiplier for the year, so far as relating to England, determined in accordance with that Part.

3

The multiplier must be expressed as a figure in which a part of a whole (if any) is expressed to three decimal points only.