The Latest News from Wrexham Business Professionals

Business leaders have vital role in Wales taxes

Businesses leaders told they have vital role to play in bringing in Wales’s two new taxes Business leaders have a key role to play in the smooth introduction of Wales’s first home-grown taxes in around 800 years. That was strong message to members of Wrexham Business Professionals (WBP) at their latest meeting from top officials of the agencies responsible for bringing in the devolved taxes on April 1.     The group is made up of successful businesses and highly skilled professional firms of solicitors, accountants and other business professionals working together to raise the profile of enterprise and expertise that exists in the region and beyond.  Around 130 members and guests at the meeting in the Ramada Plaza received a full briefing on and transaction tax which replaces Stamp Duty Land Tax, and landfill disposals tax, which takes the place of Landfill Tax five weeks before they are introduced in Wales. The session was delivered by Dr Andy Fraser, head of strategy for the Welsh Treasury, and Sam Cairns, head of operational delivery at the Welsh Revenue Authority (WRA) – a new tax authority responsible for collecting and managing devolved taxes in Wales. Both stressed the vital role of businesses in the implementation of the new fiscal measures and encouraged bosses to become involved in formulating the taxes. Dr Fraser, who has had 16 years’ experience of delivering high-profile policy and legislative programmes for the UK and Welsh Governments, described the two taxes as a “great opportunity” for the country. He explained: “They give us the chance to develop tax regimes which support the Welsh Government’s objectives and agenda. “We want to work with businesses and citizens across Wales to develop the new tax regime and how it’s administered. “By April 2019 we are looking to raise and collect around £5 billion worth of tax revenue in Wales and our key principles will be to make the regime as fair as possible as well as clear, stable...... more ›