The Non-Domestic Rating (Stud Farms) Order 1989
Paragraph 2A of Schedule 6 to the Local Government Finance Act 1988, inserted by paragraph 38(11) of Schedule 5 to the Local Government and Housing Act 1989, provides for deductions from the amount which would otherwise be the rateable value of hereditaments comprising buildings used in whole or in part for the breeding and rearing of horses and ponies, or for either purpose, and which are occupied together with agricultural land or buildings. The deduction is to be the smaller of—a specified amount, andthe amount which would otherwise be the rent that a hypothetical tenant would pay for so much of the hereditament as consists of buildings used for such purposes.