The CIOT has formed a new Welsh Technical sub-committee coinciding with the Welsh devolved taxes coming on stream in April 2018.
Land transaction tax will replace stamp duty land tax in Wales and landfill disposals tax will comes into force instead of landfill tax in Wales from April 2018. The Welsh Government will take on responsibility for Welsh Rates of income tax (WRIT) from April 2019. The case for further taxes in Wales, such as a vacant land tax, a social care tax, a disposable plastic tax and a tourism tax are under consideration.
With the historic introduction of new Welsh devolved taxes, the CIOT has established a Welsh Technical sub-committee replacing and building upon the work of the existing Welsh Affairs Working Group. The new sub-committee’s remit will extend to all aspects of Welsh taxation and taxes devolved to Wales under the Government of Wales Act 2006 and the Wales Acts of 2014 and 2017.
The CIOT is delighted that Lakshmi Narain and Ritchie Tout have agreed to take on the roles of Chair and Vice-Chair respectively with Kate Willis supporting the work of the sub-committee as Technical Officer.
The Welsh Technical sub-committee will largely operate on a virtual basis with regular meetings typically by conference call. However physical meetings will be held when appropriate to do so. The inaugural meeting will be held on the afternoon of 15 May 2018 in Cardiff.
We would welcome applications to join the sub-committee from members based in Wales or from members based outside Wales but with an interest in Welsh taxation. Details of the short application process can be found on the CIOT website.