Clause 13
Business Rate Supplements Bill
6:15 pm
John Healey (Minister of State (Local Government), Department for Communities and Local Government; Wentworth, Labour)
Now we come to the maths. The clause sets out the method for calculating the BRS chargeable amount for a day. The way in which the chargeable amount is calculated depends on whether the property in question benefits from one of the existing mandatory or discretionary reliefs from the mainstream business rate, in other words, from the national non-domestic rate.
Subsection (2), with a neat little formula—A multiplied by B over C—prescribes the formula for calculating the daily chargeable amount where no rate relief is granted in respect of the property. Liability for BRS in those circumstances is calculated by applying the BRS multiplier, which is defined in clause 14(3), to the rateable value of the property and dividing the result by the number of days in the financial year. I can tell that the hon. Member for Northampton, South is still with me at this point. Where the rateable value of a partially occupied property has been apportioned under clause 12(2) and (3), the BRS multiplier is applied to the rateable value for the occupied portion of the property.