6. & 7. The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018 and The Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (Amendment to Schedule 5) Regulations 2018

Part of the debate – in the Senedd at 5:32 pm on 30 January 2018.

Alert me about debates like this

Photo of Jane Hutt Jane Hutt Labour 5:32, 30 January 2018

Yes. Last week, I welcomed this historical step, which sees the first tax for 800 years on the statute book, ready for implementation from April 2018. I mentioned, last week, Kathryn Bishop, the chair of the Welsh Revenue Authority, which of course will be collecting our new taxes, and I just wanted to say I was very glad to meet with Kathryn Bishop today—I hope other Assembly Members managed to meet her—and also former Finance Committee Chair, Jocelyn Davies, and say how much I welcome the charter, the taxpayers' charter, which was launched by them today. The fact that the charter—. They are trying to approach this in a very different way from HMRC charters, working together to deliver a fair tax system for Wales. I think it's important to say that there is a consultation, which is closing on 13 February. So, obviously we want to help ensure that the public in our constituencies engage in that, because of course it will be important for them, as we welcome these new taxes from 1 April.

Finally, Deputy Presiding Officer, I do want to welcome—. I know the regs are technical in nature, but I want to welcome the decisions the finance Secretary has made on the rates and bands for land transaction tax, as under these, almost two thirds of all homebuyers will pay no tax under the main rates. Wales will also have the most generous starting threshold for this type of property tax in the UK from next April, so I welcome the opportunity to speak in support of these regulations.