211D.— (1) This section applies if—

(a) the levypayer has paid the levy payable in respect of qualifying property under section 211B,

(b) the rateable valuation of the property changes during the entry year because of amendment to the valuation list described in section 28 of the Valuation Act 2001, and

(c) the levypayer has not received a refund or credit under section 211C in respect of the property.

(2) As soon as reasonably practicable after amendment of the rateable valuation of the property described in subsection (1), the entry-year levy for that property shall be recalculated by the rating authority under section 211B(3) or (4), as the case may be, using the same annual rate on valuation but the amended rateable valuation for the property, and the recalculated amount shall be prorated based on the number of days remaining in the entry year, beginning with the date that the rateable valuation is amended.

(3) If, as a result of the recalculation under subsection (2), the payment of the levy described in subsection (1)(a) involved an overpayment, then the rating authority shall pay to the levypayer a refund in the amount of that overpayment.

(4) If, as a result of the recalculation under subsection (2), the payment of the levy described in subsection (1)(a) involved an underpayment, then—

(a) the levypayer is liable for the balance owing,

(b) the balance owing may be recovered from the levypayer by the same means provided under section 211B, and

(c) the provisions of section 211B(5) to (10) apply for the purposes of that recovery.

(5) If—

(a) the amended rateable valuation for the property referred to in subsection (2) is consequently the subject of an appeal under Part 7 of the Valuation Act 2001, and

(b) after all appeals under that Part have been exhausted, the final rateable valuation of the property for the entry year is different than it was for purposes of the recalculation under subsection (2),

the rating authority shall recalculate the entry-year levy for that property under section 211B(3) or (4), as the case may be, using the same formula applied in those provisions except where "B" is now the final rateable valuation for the property referred to in paragraph (b) of this subsection.

(6) If, as a result of recalculation under subsection (5), the amount of money paid by the levypayer in respect of the entry-year levy involved an overpayment or an underpayment, then—

(a) in the case of an overpayment, subsection (3) applies, and

(b) in the case of an underpayment, subsection (4) applies.]