Wales

 


The Welsh Assembly has passed the Welsh Budget for 2019-20, which proposes that the Assembly will not use its powers to vary income tax in the coming year.

CIOT Wales' Ritchie Tout on Welsh Government plans for a vacant land tax and the debate about housing supply. This first appeared in the Western Mail on Thursday 8 November 2018.

The process under the Wales Act 2014 that enables the Welsh Government to introduce new taxes in areas of devolved responsibility subject to approval from the National Assembly for Wales and both Houses of Parliament, will be tested for the first time with the formal proposal for a vacant land tax going to the UK Government later this year. The work to gain the powers is only a first step, the development of detailed policy proposals will follow involving engagement with stakeholders and the public in accordance with the Welsh Government’s tax policy framework.

This article first appeared in the Western Mail's opinion page on Friday 14 September 2018

An annual Welsh Finance Bill is essential if we are to lay solid foundations for tax policy changes and raise the level of debate.

From April 2018, Land Transaction Tax (LTT) will replace UK Stamp Duty Land Tax (SDLT) in Wales.  A number of suggestions by CIOT to make it work in practice have been included in recommendations in a Welsh Finance Committee report.