PART IIIMERGERS, SPLITS AND REORGANISATIONS AFTER 1ST APRIL 2000

Splits – amount payable as rates15

Where lands and heritages to which this Part applies are shown in a split entry, the amount payable as rates in respect of those lands and heritages and a day in the relevant year shall, subject to regulation 16 and Part V below, be calculated in accordance with the formula–

AD×RVORVmath

where–

  • AD is the amount determined under paragraph (a) or (b) of regulation 7 above, or as the case may be this Part, (before application of Part V below) in respect of the lands and heritages shown in the relevant old entry and the day immediately prior to the effective date of the split entry;

  • RV is the rateable value shown in the split entry; and

  • ORV is the old rateable value, being the rateable value shown in the relevant old entry.