10 Calculation of non-domestic rating multipliers
Local Government Finance (Wales) Act 2024 (2024 asc 6) | Legislation

Non-domestic rating multipliers

10  Calculation of non-domestic rating multipliers

In Schedule 7 to the 1988 Act, after Part A1 insert—

“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

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