Business Rates In Wales
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Business rates () is the commonly used name of non-domestic rates () in
Wales Wales ( ) is a Countries of the United Kingdom, country that is part of the United Kingdom. It is bordered by the Irish Sea to the north and west, England to the England–Wales border, east, the Bristol Channel to the south, and the Celtic ...
, a tax on occupation of non-domestic property. Rates are a
property tax A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or Wealth t ...
used to fund local services that date back to ancient times.


History

Business rates in
Wales Wales ( ) is a Countries of the United Kingdom, country that is part of the United Kingdom. It is bordered by the Irish Sea to the north and west, England to the England–Wales border, east, the Bristol Channel to the south, and the Celtic ...
have ancient roots, and were only formalised by the Vagabonds Act 1572 which modernized the system under the Tudor Poor Laws. The system was further reformed by the
Poor Relief Act 1601 The Poor Relief Act 1601 ( 43 Eliz. 1. c. 2) was an act of the Parliament of England. The act, popularly known as the Elizabethan Poor Law, the "43rd Elizabeth", or the "Old Poor Law", was passed in 1601 and created a poor law system for Engl ...
. The 1601 act was repealed in 1967, and replaced by the predecessor to business rates, the
General Rate Act 1967 A general officer is an officer of high rank in the armies, and in some nations' air and space forces, marines or naval infantry. In some usages, the term "general officer" refers to a rank above colonel."general, adj. and n.". OED Online. Ma ...
. This was subsequently reformed in the Local Government Finance Act 1988. That act established business rates in England and Wales from 1990. In 1989, domestic properties were removed from the rating system with the introduction of the
Poll Tax A poll tax, also known as head tax or capitation, is a tax levied as a fixed sum on every liable individual (typically every adult), without reference to income or resources. ''Poll'' is an archaic term for "head" or "top of the head". The sen ...
, later to be replaced with Council Tax.


Welsh Government control

In 2015, powers to adjust business rates were devolved to the
Welsh Government The Welsh Government ( ) is the Executive (government), executive arm of the Welsh devolution, devolved government of Wales. The government consists of Cabinet secretary, cabinet secretaries and Minister of State, ministers. It is led by the F ...
. The rates provide an income of approximately £1bn in Wales.


Scope

The Local Government Finance Act 1988 introduced a new system of business rates in
England and Wales England and Wales () is one of the Law of the United Kingdom#Legal jurisdictions, three legal jurisdictions of the United Kingdom. It covers the constituent countries England and Wales and was formed by the Laws in Wales Acts 1535 and 1542. Th ...
from 1990, further amended by the Local Government Finance Act 1992.


See also

* Taxation in Wales * Local income tax *
Taxation in the United Kingdom In the United Kingdom, taxation may involve payments to at least three different levels of government: Government of the United Kingdom, central government (HM Revenue and Customs), Devolution in the United Kingdom, devolved governments and Loc ...
*
Rates Rate or rates may refer to: Finance * Rate (company), an American residential mortgage company formerly known as Guaranteed Rate * Rates (tax), a type of taxation system in the United Kingdom used to fund local government * Exchange rate, rate ...
* Local government in the United Kingdom:Funding


References


External links


Valuation Office Agency
{{Rates in the United Kingdom Taxation in Wales Local government in Wales Property taxes
Wales Wales ( ) is a Countries of the United Kingdom, country that is part of the United Kingdom. It is bordered by the Irish Sea to the north and west, England to the England–Wales border, east, the Bristol Channel to the south, and the Celtic ...
Wales Wales ( ) is a Countries of the United Kingdom, country that is part of the United Kingdom. It is bordered by the Irish Sea to the north and west, England to the England–Wales border, east, the Bristol Channel to the south, and the Celtic ...
Rates Rate or rates may refer to: Finance * Rate (company), an American residential mortgage company formerly known as Guaranteed Rate * Rates (tax), a type of taxation system in the United Kingdom used to fund local government * Exchange rate, rate ...