The Business Rate Supplements (Transfers to Revenue Accounts) (England) Regulations 2009

End of year transfers

3.—(1) No later than 30th April in each financial year commencing with the financial year beginning in 2010, the billing authority shall calculate—

(a) the amount it received in respect of BRS in the preceding financial year;

(b) the amount it transferred to its revenue account during that year; and

(c) the difference between those two amounts.

(2) Where the amount calculated under sub-paragraph (1)(a) is more than the amount calculated under sub-paragraph (1)(b), the billing authority shall transfer the amount of the difference from its collection fund to its revenue account.

(3) Where the amount calculated under sub-paragraph (1)(a) is less than the amount calculated under sub-paragraph (1)(b), the billing authority shall either—

(a) transfer the amount of the difference from its revenue account to its general fund; or

(b) reduce an instalment or instalments to be transferred under paragraph 2 after the date of the calculation made under this paragraph by an amount equal to the amount of the difference.

(4) For the purposes of sub-paragraph (1), the amount that a billing authority receives in a financial year (“year X”) in respect of BRS is calculated in accordance with the formula—

where—

D is the aggregate amount paid into the billing authority’s collection fund under section 90(1)(c) and (ca) of the 1988 Act in the year X;

E is the total liability under Part 3 of the 1988 Act of all non-domestic ratepayers in the billing authority’s area—

(a)

that should have been discharged in the year X, and

(b)

that should have been discharged in an earlier financial year but which was not,

less the amount of any payments the billing authority was required to make in year X to non-domestic ratepayers in respect of non-domestic rates; and

F is the total liability under the Act of those liable to BRS in the billing authority’s area—

(a)

that should have been discharged in the year X, and

(b)

that should have been discharged in an earlier financial year but which was not,

less the amount of any payments in respect of BRS that the billing authority was required to make in year X to those liable to BRS.

(5) Transfers under sub-paragraphs (2) and (3)(a) shall be made as soon as practicable in the financial year following the one to which they relate.

(6) Transfers under sub-paragraph (3)(b) shall be made on the same day the instalment to which they relate is transferred.