5p carrier bag charge turns 5!
Today (1 October) marks the five year anniversary of the introduction of the Welsh Government’s ground-breaking Single Use Carrier Bag charge.
- Welsh Government steps in to help small businesses affected by revaluation
- Blue Badge eligibility criteria expanded
- 5p carrier bag charge turns 5!
Section highlightLand Transaction Tax
Land Transaction Tax will replace UK Stamp Duty Land Tax in Wales.
Final Budget 2016-17 »
The amount of funding allocated to Welsh Government Main Expenditure Groups (MEGs) for 2016-17 is £15bn.Learn more »
- Statistics & Research
Upcoming calendar »
See the schedule for all statistics and research releases.View upcoming calendar »
Non-Domestic (business) Rates
Non Domestic Rates (NDR) are also known as Business Rates and are a property tax paid on non-domestic properties.
NDR are the means by which businesses and other users of non-domestic property contribute towards the costs of local authority services.
NDR are calculated by taking the Rateable Value (RV) of a property and multiplying it by the NDR 'multiplier' or 'poundage' for the year in question. The Valuation Office Agency (VOA), which is independent of the Welsh Government, values properties for the purposes of charging NDR and assigns the RV.
The Welsh Government sets the multiplier each year. Normally the multiplier is set according to the Retail Price Index (RPI) as at the September preceding the financial year to which the multiplier applies, and it cannot be increased by more than that figure. The multiplier for the financial year 2016-17 is 0·486.
There are various reliefs available which can help to reduce the rates bill for a business or other non-domestic property. The Welsh Government pays 100% of mandatory rate reliefs and a percentage, in some cases up to 90%, of discretionary reliefs. A business can appeal against its RV if it thinks it is incorrect.
All NDRs are collected and paid into the Welsh Government's Non-Domestic Rates Pool. They are then redistributed to local authorities as part of the local government revenue settlement each year.
Business Rates Relief in Wales (external link) is a government-funded site, designed to provide businesses with a single source of clear and concise information on business rates.
If you have concerns about the valuation of your home or business the Valuation Tribunal Wales (external link) may be able to help you.