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Land and Buildings Transaction Tax (Scotland) Act 2013
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Temporal discount rate
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7(1)For the purposes of this schedule the “temporal discount rate” is 3.5% or such other rate as may be specified by the Scottish Ministers by order.
(2)An order under this paragraph may—
(a)specify a rate or make provision for any such rate to be determined by reference to such rate or the average of such rates as may be referred to in the order,
(b)provide for rates to be reduced below, or increased above, what they otherwise would be by specified amounts or by reference to specified formulae,
(c)provide for rates arrived at by reference to averages to be rounded up or down, and
(d)provide for circumstances in which alteration of a rate is or is not to take place.
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