[Part A2 Non-Domestic Rating Multipliers: Wales]
Local Government Finance Act 1988 (1988 c 41) | Legislation

[Part A2 Non-Domestic Rating Multipliers: Wales]

[Introduction

A13

This Part of this Schedule has effect to determine, in relation to Wales, the non-domestic rating multiplier for each chargeable financial year.

Calculation of non-domestic rating multiplier: revaluation years

A14

(1)     The non-domestic rating multiplier for a revaluation year is to be calculated in accordance with the formula—

(A x B x D) / (C x E)

(2)     In sub-paragraph (1)—

(a)     “A†is the non-domestic rating multiplier for the financial year preceding the year concerned;

(b)     “B†is the consumer prices index for September of the financial year preceding the year concerned;

(c)     “C†is—

(i)     the consumer prices index for September of the financial year which precedes that preceding the year concerned, or

(ii)     where the base month for the consumer prices index for September of the financial year which precedes that preceding the year concerned (the first year) differs from that for the index for September of the year which precedes the year concerned (the second year), the figure which the Welsh Ministers calculate would have been the consumer prices index for September of the first year if the base month for that index

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