The Valuation for Rating (Plant and Machinery) (Wales) (Amendment) Regulations 2010

Prescribed assumptions as to plant and machinery: valuation for 1st April 2010 and subsequent days2A

1

For the purpose of determining the rateable value of a hereditament for any day on or after 1st April 2010, in applying the provisions of sub-paragraphs (1) to (7) of paragraph 2 of Schedule 6 to the Local Government Finance Act 1988—

a

in relation to a hereditament in or on which there is plant or machinery which belongs to any of the classes set out in the Schedule to these Regulations, the prescribed assumptions are that–

i

any such plant or machinery is part of the hereditament except to the extent that it has microgeneration capacity, and

ii

the value of any other plant and machinery has no effect on the rent to be estimated as required by paragraph 2(1); and

b

in relation to any other hereditament, the prescribed assumption is that the value of any plant or machinery has no effect on the rent to be so estimated.

2

The exception in paragraph (1)(a)(i) applies only—

a

in relation to any item of plant or machinery that—

i

is installed on or after 1st April 2010, and

ii

on the day of installation has microgeneration capacity; and

b

in the period—

i

starting on the day that the item of plant or machinery is installed, and

ii

ending on the earlier of—

aa

the first day after the day that the item of plant or machinery is installed on which rating lists fall to be compiled for the purposes of sections 41(2) and 52(2) of the Local Government Finance Act 1988, and

bb

the day the item of plant or machinery ceases to have microgeneration capacity.

3

In this regulation “microgeneration capacity” means the capacity of plant or machinery to be used for the generation of electricity or the production of heat—

a

which, in generating electricity or (as the case may be) producing heat, relies wholly or mainly on a source of energy or a technology mentioned in section 26(2) (interpretation) of the Climate Change and Sustainable Energy Act 2006; and

b

the capacity of which to generate electricity or (as the case may be) to produce heat does not exceed the capacity mentioned in section 26(3) of that Act.