SCHEDULE 1Calculation of retained rates income

Calculation for major precepting authorities2

The retained rates income of an authority that is a major precepting authority is the amount calculated in accordance with the formula—

RS+(P−Q)math

Where—

  • R is the sum of the certified non-domestic rating income of all billing authorities required to make payments to the major precepting authority for the relevant year under Part 4 of Schedule 7B to the 1988 Act (payments by billing authorities to major precepting authorities);

  • S is—

    1. i

      10% where the relevant authority is a county council which is a fire and rescue authority;

    2. ii

      9% where the relevant authority is a county council which is not a fire and rescue authority;

    3. iii

      20% where the relevant authority is the Greater London Authority;

    4. iv

      1% where the relevant authority is a fire and rescue authority not falling within paragraph (a);

  • P is the amount paid to the authority by the Secretary of State for the relevant year in accordance with Part 5 of Schedule 7B to the Act (principal payments in connection with local retention of non-domestic rates); and

  • Q is the amount paid by the authority to the Secretary of State for the year in accordance with Part 5 of Schedule 7B to the Act.