The Wales Act 2014 gave new powers to the Welsh Assembly relating to taxation and borrowing. It provides for the full devolution of SDLT and landfill tax from April 2018.
The Command Paper: Wales Bill: Financial Empowerment and Accountability – published alongside the Wales Bill in 2014 – required us to begin to forecast Welsh taxes alongside Autumn Statement 2014 and twice a year thereafter. This currently includes forecasts for stamp duty land tax, landfill tax, aggregates levy and the Welsh rate of income tax.
The Welsh Government announced, in its Tax Collection and Management (Wales) Bill in July 2015, its intention to replace SDLT with a ‘land transaction tax’ and landfill tax with a ‘land disposals tax’. The intended date of Royal Assent for this bill is spring 2016, with a further bill introducing the legislation expected later in the year.
Evidence to the Welsh Parliament