Taxation and Business Rates

A consultation on draft regulations to implement the government’s Business Rates Improvement Relief Scheme to support businesses wishing to invest in their property. It will ensure that no ratepayer will face higher business rates bills for 12 months as a result of qualifying improvements to a property they occupy.

The Welsh Government is consulting on a wide range of improvements to non-domestic rates. The proposals include the following:

• more frequent revaluation cycles
• Improving the flow of information between government and ratepayers
• providing the Welsh Government with more flexibility to amend reliefs and exemptions
• a review of reliefs and exemptions
• providing greater scope to vary the multiplier
• improving the administration of valuation functions
• further measures to ensure we can continue tackling avoidance

This consultation sets out how the government intends to give effect to a number of measures arising from its recent business rates review. It covers the following areas:

1. Measures to enable more frequent revaluations
2. Improvement relief
3. Support for investment in green plant and machinery
4. Other administrative changes

This is a public consultation on delivering more frequent revaluations for business rates (non-domestic rates), part of the government’s Fundamental Review of Business Rates. This is a standalone consultation focused on more frequent revaluations, an area of reform that respondents identified as a priority in the call for evidence. We are seeking further input and evidence from interested parties to inform policy development, including on the trade-offs necessary to deliver different revaluation frequencies.

The Treasury Select Committee tax inquiry is considering whether the Government’s post-pandemic planning should include changes to tax regimes, including those directly affecting businesses and workers.