Non-Domestic Rating Accounts

Clause 39 – in the House of Commons at 7:45 pm on 21st April 1988.

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The accounts

1.—(1) In accordance with this Schedule the Secretary of State shall keep for each chargeable financial year an account (to be called a non-domestic rating account).

(2) The Secretary of State—

  1. (a) shall keep each account in such form as the Treasury may direct, and
  2. (b) shall at such time as the Treasury may direct send copies of each account to the Comptroller and Auditor General.'

No. 174, in page 98, line 37, leave out 'accounts' and insert 'account'.
No. 175, in page 98, line 38, leave out 'accounts' and insert 'account'.
No. 176, in page 98, line 40, leave out from beginning to end of line 9 on page 99 and insert—

'Credits and debits

2.—(l) For each chargeable financial year the following shall be credited (as items of account) to the account kept for the year—

  1. (a) sums received by the Secretary of State in the year under section 46 above,
  2. (b) sums received by him in the year under regulations made under section 50(2) above, and
  3. (c) sums received by him in the year under paragraph 5 below.

(2) For each chargeable financial year the following shall be debited (as items of account) to the account kept for the year—

  1. (a) payments made by the Secretary of State in the year under paragraph 5(10) below or under regulations made under paragraph 6(4) below, and
  2. (b) payments made by him in the year under paragraph 8, 11 or 12 below (as the case may be).

3.(1) As soon as is reasonably practicable after the end of each chargeable financial year the Secretary of State shall calculate the following—

  1. (a) the aggregate of the items of account credited to the account kept for the year, and
  2. (b) the aggregate of the items of account debited to the account kept for the year.

(2) If the aggregate mentioned in sub-paragraph (1)(a) above exceeds that mentioned in sub-paragraph (1)(b) above, a sum equal to the excess shall be—

  1. (a) debited (as an item of account) to the account kept for the year, and
  2. (b) credited (as an item of account) to the account kept for next financial year.

(3) If the aggregate mentioned in sub-paragraph (1)(b) above exceeds that mentioned in sub-paragraph (1)(a) above, a sum equal to the excess shall be—

  1. (a) credited (as an item of account) to the account kept for the year, and
  2. (b) debited (as an item of account) to the account kept for the next financial year.