Tax is changing in Wales

8 Dec 2017 09:59 AM

The Welsh Government and the National Assembly for Wales will become responsible for some of the taxes paid in Wales in April 2018.

Three taxes in Wales will be affected:

• Stamp Duty Land Tax
• Landfill tax
• Income tax

Land transaction tax

From 1 April 2018, land transaction tax (LTT) will replace Stamp Duty Land Tax (SDLT).

LTT will be collected by the Welsh Revenue Authority. The Welsh Government published rates and bands for LTT in October 2017.

HMRC will not accept SDLT returns for land transactions in Wales with an effective date of transaction on or after 1 April 2018.

If you plan to purchase land or property in Wales on or after 1 April 2018, ask your conveyancer or solicitor about the arrangements for LTT.

Landfill disposals tax

From 1 April 2018, landfill disposals tax will replace landfill tax in Wales.

This will be administered by the Welsh Revenue Authority. The tax will be payable by landfill operators in Wales.

For more information on Welsh taxes visit the Welsh Revenue Authority.

Welsh rates of income tax

From 5 April 2019, Welsh rates of income tax will be introduced.

Income tax will continue to be collected by HMRC.

You will not need do anything as long as HMRC has your correct address - check and update your address through your personal tax account.

Revenue from the Welsh rates of income tax will go to the Welsh Government.