SCHEDULE 19Leases

PART 2Amount of tax chargeable: rent

Temporal discount rate

I1 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.