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Business News Wales
23-07-2025
- Business
- Business News Wales
Welsh Revenue Authority Reports Total of £2bn in Revenue for Wales
Ruth Glazzard and Rebecca Godfrey The Welsh Revenue Authority (WRA) has announced £372 million in tax revenue for Wales during the last financial year. Publishing its Annual Report and Accounts for 2024 to 2025, the WRA passed the £2 billion mark for the total amount of tax collected since the start of operations in 2018. Revenue from Land Transaction Tax (LTT) and Landfill Disposals Tax (LDT) is re-invested by Welsh Government in public services, like the NHS and schools, in communities across Wales. The report focuses on the WRA's seventh year of operations. Highlights include: Over 56,000 LTT returns processed efficiently Tax recovery exceeded £2 million for the first time on LTT More than £34 million in tax collected for LDT Achieved spend within 1% of budget The WRA also reported on its work supporting Welsh Government in preparing for the Visitor Accommodation (Register and Levy) Etc. (Wales) Bill, providing the Welsh Treasury with operational insight to help develop the legislation. The WRA continued to grow capability and skills to deliver in these new areas of responsibility and it said it has been involving stakeholders from the industry in its work. Rebecca Godfrey The report marks the leadership transition from founding Chief Executive Officer (CEO), Dyfed Alsop, to Interim CEO, Rebecca Godfrey. She said: 'We continued to make progress in embedding what we call, 'Our Approach', a Welsh way of doing tax. This proactive way of supporting people to get things right resulted in the vast majority of people filing and paying the right tax the first time. 'We also innovated in current taxes by mitigating tax at risk. This is about helping people to put things right when they get their taxes wrong. We recovered a record amount of tax through this work. 'Continuing to support Welsh Government with a focus on visitor levy and national registration has also been a highlight. I'm proud of the important role we can play in leading on new public services for Wales.' The report closes the final year of the WRA's Corporate Plan 2022 to 2025. In April, the WRA published its latest corporate plan. Ruth Glazzard, Chair of the WRA, said: 'As we report on this period and look ahead with our next corporate plan, this feels like a pivotal moment in our evolution. 'We've continued to make strong progress with our current responsibilities. We've also made preparations to deliver new services on behalf of Welsh Government. We look forward to the next chapter as we deliver more for Wales.'
North Wales Live
03-07-2025
- Business
- North Wales Live
Holiday home sales down in hotspot counties of North Wales
The proportion of properties sold for holiday lets or second homes has fallen significantly in hotspot counties and national parks according to new figures from the Welsh Revenue Authority (WRA). The issue of second homes is felt most keenly in areas of Eryri and Pembrokeshire national parks, Gwynedd and Anglesey - with almost half the properties in places like Aberdyfi now second homes. It has seen a concerted effort to mitigate that trend in a bid to free up more homes for local people. Measures includes significant council tax premiums on second homes as well as stricter criteria for a property to be classed as a holiday let, which are exempt from council tax. Cyngor Gwynedd has also introduced a new Article 4 rule that requires planning permission for a residential property to change its use. While the measures have been welcomed by many, the tourism industry has warned of the impact on their sector and the Tories have said the focus should be on building new houses. Recent data is indicating that the measures are reducing the number of sales to second home and holiday let buyers. In January to March 2025, residential transactions across Wales were up 23% from the same quarter a year earlier - a total of 11,980. During the same period there was a lower 8% hike in higher rate residential sales to 2,630. Higher rate transactions include buy to let landlords, second home, holiday homes or holiday lets, as well as bridging (buying a new property while trying to sell an existing one). For areas like Anglesey, Gwynedd and Eryri these tend to be second home and holiday let sales. Sign up for the North Wales Live newsletter sent twice daily to your inbox By local authority, higher rates transactions as a percentage of all residential transactions (2024-25) varied from 13% in Monmouthshire to 31% in Merthyr Tydfil. In past years Gwynedd has often had the highest proportion of these sales with it around 37% to 39% - nearly four in every 10 homes sold. But over 2024-25 the rate has seen a notable decrease to 27% - this is down from 31% the previous year. When it comes to Eryri National Park it is down from 35% in 2023-24 to 28% over the past year and for Pembrokeshire Coast the rate has gone from 48% to 39%, Meanwhile Anglesey has declined from 34% in 2023-24 to 27% in 2024-25 - the biggest annual fall in the proportion of higher rate transactions of any county. The WRA said: 'In the past several years, there have generally been falls in these percentages in northern and western areas of Wales. 'The percentages for Gwynedd were fairly stable from 2018-19 to 2021-22 (around 37% to 39%). There was a marked fall the next year followed by a period of stability, before another notable decrease to 27% in 2024-25. 'The percentages for Anglesey declined from 36% in 2019-20 to 29% in 2022-23. While there was a notable increase to 34% the next year, there followed a larger fall to 27% in 2024-25.' They added: 'There are multiple factors influencing the large fall for Anglesey in the latest period (compared with a year earlier). One reason is the number of transactions in Anglesey is relatively low compared with nearby areas, therefore the percentages are generally more volatile from year to year. Much of this fall can also be explained by a relatively large increase in residential transactions at the main rates while higher rates transactions actually fell in the same period. 'Early data we hold on the intent behind higher rates transactions indicates the fall in higher rates transactions for Anglesey is mainly influenced by trends in purchases of second homes, holiday homes and holiday lets, and to a lesser degree, by purchases of buy to let properties.' Adam Al-Nuaimi, Head of Data Analysis in the WRA, said: 'The percentages of residential transactions at the higher rate are changing for several reasons, depending on the local authority. 'In some areas, the drop has been considerable and is partly due to fewer second home purchases. Other factors are also involved such as changes in purchase of buy-to-let properties and increases in main rates transactions exceeding those for higher rates. 'Nationally, in January to March quarterly residential revenues were higher than the same time last year, but not as high as three years earlier. There are several reasons for the latest rise. There were increases in residential transactions and average property values over that time, and tax rates for higher rates transactions increased from December 2024.'
Wales Online
03-07-2025
- Business
- Wales Online
Holiday home sales down in hotspot counties of North Wales
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info The proportion of properties sold for holiday lets or second homes has fallen significantly in hotspot counties and national parks according to new figures from the Welsh Revenue Authority (WRA). The issue of second homes is felt most keenly in areas of Eryri and Pembrokeshire national parks, Gwynedd and Anglesey - with almost half the properties in places like Aberdyfi now second homes. It has seen a concerted effort to mitigate that trend in a bid to free up more homes for local people. Measures includes significant council tax premiums on second homes as well as stricter criteria for a property to be classed as a holiday let, which are exempt from council tax. Cyngor Gwynedd has also introduced a new Article 4 rule that requires planning permission for a residential property to change its use. While the measures have been welcomed by many, the tourism industry has warned of the impact on their sector and the Tories have said the focus should be on building new houses. Recent data is indicating that the measures are reducing the number of sales to second home and holiday let buyers. In January to March 2025, residential transactions across Wales were up 23% from the same quarter a year earlier - a total of 11,980. During the same period there was a lower 8% hike in higher rate residential sales to 2,630. Higher rate transactions include buy to let landlords, second home, holiday homes or holiday lets, as well as bridging (buying a new property while trying to sell an existing one). For areas like Anglesey, Gwynedd and Eryri these tend to be second home and holiday let sales. Sign up for the North Wales Live newslettersent twice daily to your inbox By local authority, higher rates transactions as a percentage of all residential transactions (2024-25) varied from 13% in Monmouthshire to 31% in Merthyr Tydfil. In past years Gwynedd has often had the highest proportion of these sales with it around 37% to 39% - nearly four in every 10 homes sold. But over 2024-25 the rate has seen a notable decrease to 27% - this is down from 31% the previous year. When it comes to Eryri National Park it is down from 35% in 2023-24 to 28% over the past year and for Pembrokeshire Coast the rate has gone from 48% to 39%, Meanwhile Anglesey has declined from 34% in 2023-24 to 27% in 2024-25 - the biggest annual fall in the proportion of higher rate transactions of any county. The WRA said: 'In the past several years, there have generally been falls in these percentages in northern and western areas of Wales. 'The percentages for Gwynedd were fairly stable from 2018-19 to 2021-22 (around 37% to 39%). There was a marked fall the next year followed by a period of stability, before another notable decrease to 27% in 2024-25. 'The percentages for Anglesey declined from 36% in 2019-20 to 29% in 2022-23. While there was a notable increase to 34% the next year, there followed a larger fall to 27% in 2024-25.' They added: 'There are multiple factors influencing the large fall for Anglesey in the latest period (compared with a year earlier). One reason is the number of transactions in Anglesey is relatively low compared with nearby areas, therefore the percentages are generally more volatile from year to year. Much of this fall can also be explained by a relatively large increase in residential transactions at the main rates while higher rates transactions actually fell in the same period. 'Early data we hold on the intent behind higher rates transactions indicates the fall in higher rates transactions for Anglesey is mainly influenced by trends in purchases of second homes, holiday homes and holiday lets, and to a lesser degree, by purchases of buy to let properties.' Adam Al-Nuaimi, Head of Data Analysis in the WRA, said: 'The percentages of residential transactions at the higher rate are changing for several reasons, depending on the local authority. 'In some areas, the drop has been considerable and is partly due to fewer second home purchases. Other factors are also involved such as changes in purchase of buy-to-let properties and increases in main rates transactions exceeding those for higher rates. 'Nationally, in January to March quarterly residential revenues were higher than the same time last year, but not as high as three years earlier. There are several reasons for the latest rise. There were increases in residential transactions and average property values over that time, and tax rates for higher rates transactions increased from December 2024.' Join the North Wales Live WhatsApp community group where you can get the latest stories delivered straight to your phone
Business News Wales
09-06-2025
- Business
- Business News Wales
New Leadership to Drive Digital Standards Across Welsh Public Services
The Centre for Digital Public Services (CDPS) has appointed two influential leaders to accelerate the adoption of high-quality digital standards across Wales' public sector. Jemima Monteith-Thomas has been named the new Head of Standards and Product at CDPS, and Rebecca Godfrey, Interim Chief Executive Officer at the Welsh Revenue Authority (WRA), has been appointed as Chair of the Digital and Data Standards Board for Wales. These appointments come at a critical time as Wales continues to embed the Digital Service Standard for Wales — 12 principles that define what good, user-centred digital public services should look like. The Standard underpins the Welsh Government's wider Digital Strategy for Wales, aimed at building services that are simple, secure, and designed around user needs. 'Using digital service standards makes designing and delivering great public services in Wales easier,' said Jemima Monteith-Thomas, Head of Standards and Product at CDPS. 'I'm looking forward to driving awareness and adoption of the Digital Service Standard and other endorsed standards. I'm particularly excited to be working alongside Rebecca, whose experience at the WRA will bring valuable insight.' The Digital and Data Standards Board, convened by CDPS and mandated by Welsh Government Cabinet Secretary Rebecca Evans, plays a pivotal role in championing digital standards and facilitating their use across sectors. The board brings together voices from across public services in Wales to promote alignment, share best practices, and adapt other existing standards to the Welsh context. Rebecca Godfrey takes over the role of Chair from former WRA CEO Dyfed Alsop, continuing the board's work to embed consistent and high-impact standards across the digital ecosystem in Wales. 'I'm excited to shape the future of digital public services in Wales through this board,' said Rebecca. 'The standards we promote are already helping services become easier for citizens to use and more efficient to deliver. At the WRA, we've put customers at the centre of service design – helping people get things right the first time. I'm looking forward to sharing that experience and learning from others.'
IOL News
16-05-2025
- Business
- IOL News
Westville Ratepayers Association vows to continue oversight after court ruling
Asad Gaffar, the chairperson of the EThekwini Ratepayers Protest Movement (ERPM) and Westville Ratepayers Association said they will continue to hold the city accountable and advocate for the responsible management. Image: Tumi Pakkies/ Independent Newspapers The Westville Ratepayers Association (WRA) say they will continue to push for oversight in the eThekwini Municipality despite the Durban High Court dismissing their application to declare he rates charged for the financial years from 2005 to 2008 unlawful and not due to the municipality. According to the municipality the application was occasioned by an investigation report commissioned by the WRA which found that the municipality did not comply with all relevant legislation which required it to publish the rates promulgation in the Provincial Gazette. The municipality stated that they disputed this and contended that it had complied with the Municipal Finance Management Act (MFMA) and published the promulgation in the Gazette. According to the municipality, the Judge who presided over the case on Tuesday stated that this assertion was not disputed by the applicant. 'Furthermore, the Judge said that leaving aside that the application was based on a meritless investigation report, I disagree with the applicant that the municipality was obliged to comply with all relevant legislation in promulgating rates,' the municipality stated. Reacting to the judgement, eThekwini Municipality Mayor Councillor Cyril Xaba, said the municipality welcomed the judgement as it demonstrates the city's commitment to conduct its business within the framework of the law. 'Residents must rest assured of our commitment to run a clean, accountable and transparent administration,' said Xaba. Xaba added that he strongly believed in the constructive resolution of disputes and that if residents are not satisfied with the manner in which the municipality runs its affairs, his door remains open for engagements. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. 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Next Stay Close ✕ Asad Gaffar, the chairperson of the WRA and the eThekwini Ratepayers Protest Movement (ERPM) said they were disappointed but undeterred by the recent dismissal of its main application regarding the rates promulgation matter. Explaining further, Gaffar said that although the WRA's application to strike out certain contentious portions of the City's answering affidavit was however successful, it ultimately did not sway the result in the main application. 'Despite the outcome in the main application, we remain committed to championing good governance, ethical leadership, and curbing fruitless and wasteful expenditure. The municipality's infrastructure continues to deteriorate at an alarming rate, with water loss reaching a staggering 58%.' Gaffar went on to state that the 2025/2026 budget is unrealistic, unachievable, and unaffordable. Gaffar said that public participation was inadequate, rendering the process a mere formality. 'We welcome the mayor's open door policy and agenda for renewal, but actions speak louder than words. Ratepayers deserve transparency, accountability, and effective governance. We will continue to hold the city accountable and advocate for the responsible management of our resources,' Gaffar stated. Gaffar further stated that the absence of a cost order against the association acknowledges the public interest in this matter. 'The outcome is neither a win for the city nor is it a loss for the Westville Ratepayers Association. Together, we can demand better governance and ensure our city's resources are used effectively,' Gaffar said.
