The Welsh draft Budget for 2022-23 was published on 20 December 2021. The Budget sets out the Welsh government’s revenue and capital spending proposals, including detailed portfolio spending plans.

There have been no changes announced to the Welsh rates of Income Tax (WRIT) which will continue to be set at 10p for 2022-23. This means that the rates of Income Tax paid by Welsh taxpayers will be the same as those paid by English and Northern Irish taxpayers in the new tax year.

This draft Budget does not include any proposed changes to the Land Transaction Tax (LTT) rates which have applied since July 2021. The Welsh government also confirmed that the Landfill Disposals Tax (LDT) rates will continue to mirror the UK landfill tax rates in 2022-23.

Retail, leisure and hospitality ratepayers in Wales will receive 50% non-domestic rates relief for the duration of 2022-23 through the Retail Leisure and Hospitality Rates Relief (RLHRR) scheme. The RLHRR scheme will be capped at £110,000 per business across Wales. In addition to the RLHRR scheme, the non-domestic rates multiplier in Wales will not increase for 2022-23.

Source: New feed