Scottish government discount rate

2 Oct 2019 that the personal injury discount rate is to remain unchanged has dashed As we made clear in our response to the Scottish government's 

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1 Oct 2019 The Government Actuary has outlined that the personal injury discount rate in Scotland should remain unchanged at -0.75%. The decision 

Section 1 of the Damages Act 1996 allows the Scottish Ministers to prescribe the Discount Rate for calculating the amount to be deducted from an award. The Discount Rate is currently 2.5%, following a decision taken in 2002. The Government Actuary's Department (GAD) will therefore start assessing a new Scottish Discount Rate on 1 July. The deadline for GAD to report to Scottish Ministers with its recommendation for the new rate is 90 days (as per Part 3 of the Act), Scottish Budget 2020/2021: non-domestic rates changes. These changes start from April 2020. the basic property rate (poundage) changed from 49 pence to 49.8 pence. the Small Business Bonus Scheme is restricted to properties in active use. the previous Large Business Supplement will be replaced by 2 rates: Intermediate Property Rate; Higher Property Rate The Bill includes a late amendment by the Scottish Government to increase the standard adjustment for investment charges and taxation from 0.5% to 0.75%. Based on the initial calculation of the rate under the model proposed in this Bill this would lead to an adjusted forecast of -0.25% rather than the 0% previously predicted. Following a review of the rate by the Lord Chancellor, Scottish Ministers lowered the rate from 2.5% to -0.75% in March 2017, reflecting the same changes in England and Wales. The Scottish Government Actuary has decided that the discount rate in Scotland should remain unchanged at -0.75%. This follows a review of the rate which was completed on 27 September. In July, the discount rate for England and Wales was set at -0.25%, with insurers reacting with disappointment.

30 Sep 2019 New report sets out the Government Actuary's determination of the Personal Injury Discount Rate in Scotland.

Non-domestic rates are based on the rateable value of a property, which is determined by the independent Scottish Assessors. The amount paid is calculated by multiplying the property's rateable value by a pence in the pound tax rate known as the poundage. “Today the Government Actuary submitted a report to the Scottish Ministers recommending that the Scottish personal injury discount rate be fixed at -0.75%,” representatives said. We and the Scottish Parliament are responsible for the legislation that defines Council Tax. Although each council is responsible for setting their Council Tax rate, we have agreed with local government for increases to be capped at 3% in the financial years 2017 to 2018 and 2018 to 2019. The Scottish Government has announced that the Damages (Investments Returns and Periodical Payments) (Scotland) Act 2019 will come into force on 1 July 2019. The Government Actuary's Department (GAD) will therefore start assessing a new Scottish Discount Rate on 1 July.

3 Oct 2019 Government Actuary, Martin Clarke, has announced that the discount rate in Scotland is to remain at its current level of -0.75%. Now that there 

30 Sep 2019 The Scottish Government Actuary has decided that the discount rate in Scotland should remain unchanged at -0.75%. This follows a review of  1 Oct 2019 The Government Actuary has outlined that the personal injury discount rate in Scotland should remain unchanged at -0.75%. The decision  19 Jun 2019 The Scottish Government has announced that the Damages (Investment Returns and Periodical Payments) (Scotland) Act 2019 (the Act) will  2 Oct 2019 The Government Actuary has published his review and determination of the discount rate to be applied in Scotland. It has been determined that  30 Sep 2019 The Government Actuary has confirmed that the discount rate in Scotland will remain unchanged at -0.75% following the completion of his  10 Jun 2019 New Scottish Discount Rate expected by October 2019 following review process. The Scottish Government has announced that the Damages  2 Oct 2019 In a report to the Scottish Government dated 5 September 2018, the GAD estimated that a return rate of 1% above RPI inflation would have 

The UK government's Actuary's Department published a report in September 2018, designed to assist the Scottish government in setting the discount rate. This predicted a discount rate of 0%. On this basis, the increase in the deduction for tax and investment advice produces a forecasted discount rate of minus 0.25%, which will continue to

19 Jun 2019 The Scottish Government has announced that the Damages (Investment Returns and Periodical Payments) (Scotland) Act 2019 (the Act) will  2 Oct 2019 The Government Actuary has published his review and determination of the discount rate to be applied in Scotland. It has been determined that 

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14 Jul 2019 A statutory instrument will be laid in parliament to change the rate application to PI lump compensation payments to -0.25%. The new rate will  15 Jul 2019 The Ogden discount rate will rise to -0.25% from -0.75% following a government review. Section 1 of the Damages Act 1996 allows the Scottish Ministers to prescribe the Discount Rate for calculating the amount to be deducted from an award. The Discount Rate is currently 2.5%, following a decision taken in 2002. The Government Actuary's Department (GAD) will therefore start assessing a new Scottish Discount Rate on 1 July. The deadline for GAD to report to Scottish Ministers with its recommendation for the new rate is 90 days (as per Part 3 of the Act), Scottish Budget 2020/2021: non-domestic rates changes. These changes start from April 2020. the basic property rate (poundage) changed from 49 pence to 49.8 pence. the Small Business Bonus Scheme is restricted to properties in active use. the previous Large Business Supplement will be replaced by 2 rates: Intermediate Property Rate; Higher Property Rate The Bill includes a late amendment by the Scottish Government to increase the standard adjustment for investment charges and taxation from 0.5% to 0.75%. Based on the initial calculation of the rate under the model proposed in this Bill this would lead to an adjusted forecast of -0.25% rather than the 0% previously predicted.

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