New section 41A Alternative method of calculating annual value of agricultural land and buildings
804 Subsection (1) provides the power for the appropriate national authorities to make such regulations.
805 Subsections (3) and (4) set out the provisions the regulations may include when setting out the new valuation calculation. These provisions detail the different components of the calculation to assess the value of "chargeable property" under the LDA. This ensures that the appropriate national authority has the necessary powers to stipulate a comprehensive valuation calculation in secondary legislation in respect of the territories of England and Wales.
806 Subsections (7) and (8) set out which IDBs the appropriate national authority can decide to apply the regulations to. Linked to this, subsection (9) enables the regulations to allow for an IDB to elect that the regulations apply to them, and for the regulations to specify a procedure for that election. These provisions mean that, where an issue associated with the existing valuation calculation only affects certain IDBs, the appropriate national authority may provide an alternative calculation which other IDBs may elect to make use of, if they so choose. However, the provisions also reflect the fact that, in the future, the calculation may need to be updated for all IDBs (were an issue within the calculation to affect all IDBs). Subsections (7) and (8) therefore enable the appropriate national authority to stipulate in secondary legislation that a calculation can be applied to all IDBs in such cases.
807 Subsection (10)(b) enables the appropriate national authority to make changes, as a consequence of these new provisions being added to the LDA. This includes amending, repealing or revoking provisions in primary legislation (pursuant to subsection (11)).
808 Subsection (12) places a duty on the appropriate national authority to consult such persons (if any) as are considered appropriate, taking into account the extent to which the regulations are likely to affect the valuation of any chargeable properties.
Clause 89: Disclosure of Revenue and Customs information
809 Clause 89 inserts new sections 37A to 37C into the Land Drainage Act 1991 ("the LDA").