{
  "url": "https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013/schedule-19/paragraph-6",
  "json_url": "https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013/schedule-19/paragraph-6.json",
  "legislation": "asp/2013/11",
  "legislation_title": "Land and Buildings Transaction Tax (Scotland) Act 2013",
  "legislation_url": "https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013",
  "path": "schedule/19/paragraph/6",
  "kind": "paragraph",
  "number": "6",
  "heading": null,
  "text": "The net present value (NPV) of the rent payable over the term of a lease is calculated by applying the following formula—\nNPV = ∑ i = 1 n r i ( 1 + T ) iwhere—\nr i is the rent payable in respect of year i,\ni is the first, second, third etc. year of the term of the lease,\nn is the term of the lease, and\nT is the temporal discount rate (see paragraph 7).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 19 para. 6 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/asp/2013/11/schedule/19/paragraph/6",
    "retrieved_at": "2026-10-29T20:14:25.082177+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}