Taxation and Business Rates

This consultation seeks views on proposals for sharing risk and reward, managing volatility in income and setting up the reformed business rates retention system.

The reform of the business rates retention system will sit alongside wider changes to the local government finance system which the government aims to introduce in 2020.

The House of Lords Economic Affairs Committee’s Finance Bill Sub-Committee is investigating the draft Finance Bill 2018. In particular, the Sub Committee is examining progress on the ‘Making Tax Digital’ programme since the Sub-Committee’s March 2017 Report on Making Tax Digital for Business.

The Welsh Government has opened a consultation on tackling avoidance of non-domestic rates in Wales

HMRC have launched a consultation which proposes to introduce ‘conditionality’ measures to tackle the hidden economy This would make compliance with certain tax obligations a condition of holding some licences, and introduce checks on applicants’ tax-registration status as part of licensing processes.

The Welsh Government is seeking views on proposals to reform the system for business rate appeals in Wales.

From 1st April 2018, a new Small Business Rate Relief scheme will operate in Wales. This scheme will aim to more effectively target support for small businesses. The consultation invites views on proposals including:

The Public Accounts Committee has launched an inquiry into business rates retention and the Government’s plans for local authorities to retain all stock and growth in business rates revenue by 2019/20.

The Welsh Government are consulting on proposals to reform the structure and organisational procedures provided for in the Valuation Tribunal Regulations 2010 to:

• remove unnecessary bureaucracy and simplify administrative procedures to allow the Valuation Tribunal for Wales to work more efficiently
• strengthen governance arrangements to ensure the independence and accountability of the organisation
• provide for future reforms to the business rates appeals process.

The Department for Communities and Local Government has opened a consultation on allowing local government to retain 100% of the business rates they raise locally.

At the Budget on 8 March, the Chancellor announced that the government would make available a discretionary fund of £300 million to support those businesses most affected by the revaluation.

The Department for Communities and Local Government has launched a consultation seeking views on the:

• allocation of resources to local authorities
• arrangements for local authorities compensation
• operation and conditions of discretionary relief scheme