Scottish rate definition

Scottish rate in relation to a tax year, means a rate set by a Scottish rate resolution for that year,”, and
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Examples of Scottish rate in a sentence

  • A motion for a Scottish rate resolution under section 80C or for the cancellation of such a resolution may be moved, and notice of such a motion may be given, only by a member of the Scottish Government.

  • This Memorandum of Understanding sets out arrangements between HMRC and SG for setting up and operating SRIT.Paragraph 11.1 Scottish rate of income tax – The Scotland Act 1998 (“the 1998 Act”), as amended by the Scotland Act 2012 (“the 2012 Act”), givesthe Scottish Parliament the power to set a Scottish rate of income tax to be charged on Scottish taxpayers (as defined in new section 80D of the 1998 Act).

  • LimitationsSignatures Appendices IntroductionThe Scottish rate of income tax (SRIT) will be set, each year, through a Resolution passed by the Scottish Parliament on the basis of a proposal made by Scottish Ministers.

  • From April 2016, the Scottish Parliament must set a new Scottish rate of income tax.

  • Where a Budget Bill is dependent on a particular Scottish rate resolution, Stage 3 proceedings on the Bill cannot begin until the Parliament has agreed to the motion for the resolution (Rule 9.16.7).

  • In section 110(2) of the Scotland Act 1998 (Scottish taxpayers: rates of income tax for social security purposes) for the words from “the Scottish basic rate” to “Scottish taxpayers” substitute “ a Scottish rate (within the meaning of the Income Tax Acts) ”.

  • The unemployment rate, at 4.6% for Aberdeen City, Aberdeenshire and North East Moray in 2003, was lower than the overall UK rate of 5.0% and well below the Scottish rate of 5.8%.14 The Stavanger region (Rogaland County) employed 190,000 people in 2003, accounting for 50% of the region’s population.

  • The Scotland Act 1998 as amended by the Scotland Act 2012 (‘the 2012 Act’) gave the Scottish Parliament the power to set a Scottish rate of income tax (SRIT) to apply to Scottish taxpayers.

  • Limitations Paragraph 8Dispute Resolution Signatures AppendicesIntroduction In February 2016, the Scottish Parliament passed its first Scottish Rate Resolution to set the Scottish rate of income tax (SRIT), as provided for under the Scotland Act 2012.

  • These Rules reflect the fact that there is likely to be considerable interdependence between the Scottish rate resolution and the Budget Bill.

Related to Scottish rate

  • Class A-2 Rate means [ ]% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Turnover Rate means the period of time (usually in hours) required to circulate a volume of water equal to the pool or spa capacity.

  • Net Rate With respect to each Mortgage Loan, the Mortgage Interest Rate in effect from time to time less the Aggregate Expense Rate (expressed as a per annum rate).

  • -Through Rate As to each Class of interest-bearing Certificates, the per annum rate set forth or described in the Preliminary Statement.

  • Class A-3 Note Interest Rate means a rate per annum equal to %.

  • Marker Rate With respect to the Class CE Certificates and any Distribution Date, a per annum rate equal to two (2) times the weighted average of the REMIC I Remittance Rate for REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2A, REMIC I Regular Interest I-LTA2B, REMIC I Regular Interest I-LTA2C, REMIC I Regular Interest I-LTA2D, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10, REMIC I Regular Interest I-LTM11, REMIC I Regular Interest I-LTM12, REMIC I Regular Interest I-LTM13 and REMIC I Regular Interest I-LTZZ, with the rate on each such REMIC I Regular Interest (other than REMIC I Regular Interest I-LTZZ) subject to a cap equal to the lesser of (i) One-Month LIBOR plus the related Certificate Margin for the related Corresponding Certificate and (ii) the related Net WAC Pass-Through Rate for the related Corresponding Certificate for the purpose of this calculation for such Distribution Date and with the rate on REMIC I Regular Interest I-LTZZ subject to a cap of zero for the purpose of this calculation; provided, however, each such cap shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Interest Accrual Period and the denominator of which is 30.

  • Class A-2 Note Interest Rate means a rate per annum equal to %.

  • Class A-1 Rate means 5.604% per annum (computed on the basis of the actual number of days elapsed during the relevant Interest Period and a 360‑day year).

  • SBI 1 Year MCLR Rate means 1 year Marginal Cost of Funds Based Lending Rate (MCLR) fixed by State Bank of India (SBI) / any replacement thereof by SBI for the time being in effect applicable for 1 year period, as on 1st April of the respective financial year in accordance with regulations and guidelines of Reserve Bank of India. In absence of such rate, any other arrangement that substitutes such rate as mutually agreed to by the Parties.

  • Class A Floating Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class A Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of such day; provided, however, that with respect to the first Monthly Period, the Class A Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Invested Amount and the denominator of which is the Initial Invested Amount.

  • Swap LIBOR With respect to any Distribution Date (and the related Accrual Period) the product of (i) the Floating Rate Option (as defined in the Swap Agreement for the related Swap Payment Date), (ii) two and (iii) the quotient of (a) the actual number of days in the Accrual Period for the Lower Tier REMIC Interests divided by (b) 30.

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Floating Amount The product of (a) the Notional Amount (b) the Floating Rate Day Count Fraction and (c) the Settlement Spread which shall be calculated in accordance with the following formula: If USD-LIBOR-BBA is greater than the Cap Rate I for the applicable Calculation Period, then Settlement Spread = (USD-LIBOR-BBA - applicable Cap Rate I) provided, however, that if USD-LIBOR-BBA for any Calculation Period is greater than the Cap Rate II then the USD-LIBOR-BBA for such Calculation Period shall be deemed to be the Cap Rate II. If 1 Month USD-LIBOR-BBA is less than or equal to the Cap Rate I for the applicable Calculation Period, then Settlement Spread = Zero. Floating Rate for initial Calculation Period: To be determined Floating Rate Option: USD-LIBOR-BBA Designated Maturity: 1 month Spread: None Floating Rate Day Count Fraction: 30/360 Reset Dates: First day of each Calculation Period. Business Days: New York Calculation Agent: Party A

  • Three-Month LIBOR means the rate (expressed as a percentage per annum) for deposits in United States dollars for a three-month period commencing on the first day of a Dividend Period that appears on the Reuters Screen LIBOR01 Page as of 11:00 a.m. (London time) on the LIBOR Determination Date for that Dividend Period. If such rate does not appear on Reuters Screen LIBOR01 Page, Three-month LIBOR will be determined on the basis of the rates at which deposits in United States dollars for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., London time, on the LIBOR Determination Date for that Dividend Period. The Calculation Agent will request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date for that Dividend Period for loans in United States dollars to leading European banks for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million. However, if fewer than three banks selected by the Calculation Agent to provide quotations are quoting as described above, Three-month LIBOR for that Dividend Period will be the same Three-month LIBOR as determined for the previous Dividend Period or, in the case of the Dividend Period beginning on April 30, 2018, 2.920%. The determination of Three-month LIBOR for each relevant Dividend Period by the Calculation Agent will (in the absence of manifest error) be final and binding.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Class A-2-B Interest Rate means LIBOR + 0.27% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360 day year); provided, however, that for any Interest Period for which the sum of LIBOR + 0.27% is less than 0.00%, the Class A-2-B Interest Rate shall be deemed to be 0.00%.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Remittance Rate With respect to each Mortgage Loan, the related Note Rate minus the Servicing Fee Rate.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions: