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8.—(1) The appropriate fraction for a defined hereditament for a relevant year shall be found by applying the formula—
(2) For the purposes of this regulation, where the notional chargeable amount for the hereditament for the relevant year exceeds the base liability for the hereditament for the year —
(a)X is 110 if
(i)the hereditament is situated in Greater London and the rateable value shown for it in the list for 1 April 1995 is £15,000 or more, or
(ii)the hereditament is situated outside Greater London and the rateable value shown for it in the list for 1 April 1995 is £10,000 or more.
(b)subject to sub-paragraph (c), X is 107.5 if
(i)the hereditament is situated in Greater London and the rateable value shown for it in the list for 1 April 1995 is less than £15,000, or
(ii)the hereditament is situated outside Greater London and the rateable value shown for it in the list for 1 April 1995 is less than £10,000.
(c)X is 105 if
(i)the hereditament is situated in Greater London, is shown in the list as a composite hereditament for 1 April 1995, and the rateable value shown for it in the list for that day is less than £15,000, or
(ii)the hereditament is situated outside Greater London, is shown in the list as a composite hereditament for 1 April 1995, and the rateable value shown for it in the list for that day is less than £10,000.
(3) For the purposes of this regulation, where the notional chargeable amount for the hereditament for the relevant year does not exceed the base liability for the hereditament for the year and —
(a)the hereditament is situated in Greater London and the rateable value shown for it in the list for 1 April 1995 is £15,000 or more, or
(b)the hereditament is situated outside Greater London and the rateable value shown for it in the list for 1 April 1995 is £10,000 or more,
then
(i)for the relevant years beginning on 1 April 1995 and 1 April 1996, X is 95;
(ii)for the relevant year beginning on 1 April 1997, X is 85;
(iii)for the relevant years beginning on 1 April 1998 and 1999, X is 70.
(4) For the purposes of this regulation, where the notional chargeable amount for the hereditament for the relevant year does not exceed the base liability for the hereditament for the year and —
(a)the hereditament is situated in Greater London and the rateable value shown for it in the list for 1 April 1995 is less than £15,000, or
(b)the hereditament is situated outside Greater London and the rateable value shown for it in the list for 1 April 1995 is less than £10,000,
then
(i)for the relevant years beginning on 1 April 1995 and 1 April 1996, X is 90;
(ii)for the relevant year beginning on 1 April 1997, X is 80;
(iii)for the relevant years beginning on 1 April 1998 and 1999, X is 65.
(5) For the purposes of this regulation —
(a)Q is the amount found by applying the formula—
(b)RPI(1) is the retail prices index for September of the financial year preceding the relevant year concerned;
(c)RPI(2) is the retail prices index for September of the financial year which precedes that preceding the relevant year concerned;
(d)Q shall, if not a whole number, be calculated to three decimal places only —
(i)adding one thousandth where (apart from this sub-paragraph) there would be more than five ten-thousandths, and
(ii)ignoring the ten-thousandths where (apart from this sub-paragraph) there would be five, or less than five, ten-thousandths.
(6) Where one or more of the following provisions apply —
(a)regulation 14,
(b)paragraph 5 of Schedule 1,
(c)paragraph 11 of Schedule 2,
this regulation applies subject to the modifications made in the regulation or paragraph concerned.
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