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 Rates Revaluation
Non-domestic properties are normally assessed every five years and given new rateable values, based on rental values, for the purpose of calculating liability for non-domestic rates (also known as business rates).
Revaluations do not raise extra revenue.
A revaluation was scheduled for 2015. However, due to economic conditions and following a decision by UK Government to delay the revaluation in England, a decision was taken by the Welsh Ministers to postpone the date of the next revaluation in Wales until 2017. The new rating list will come into force on 1 April 2017.
Revaluations do not raise extra revenue overall. Instead, revaluations reflect changes in the property market across the country, and therefore redistributes the same total tax liability for non-domestic rates.
Some rates bills will rise and some will fall, but legislation means the average national bill will only change with inflation.