The Non-Domestic Rating (Stud Farms) (England) Order 2009
Paragraph 2A of Schedule 6 to the Local Government Finance Act 1988 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 (“stud farm hereditaments”). The deduction is to be the smaller of a specified amount and the amount which would otherwise be the rent that a hypothetical tenant would pay for so much of the hereditaments as consist of buildings used for such purposes.