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The Treasury has launched a consultation on the devolution of stamp duty land tax (SDLT) to the National Assembly for Wales, following recommendations by the Silk Commission.
The Treasury has launched a consultation on the devolution of stamp duty land tax (SDLT) to the National Assembly for Wales, following recommendations by the Silk Commission.
Views on three key areas are sought from businesses that undertake property investment and location decisions, and from firms that work in the construction sector on both the English and Welsh sides of the border:
- The potential impacts on the construction industry and the property market given the populous border between Wales and England.
- The likely impact on investment and business location decisions that might result from different property transaction tax regimes in England and Wales.
- The administrative burdens on companies and the conveyancing trade from having to comply with potentially different property transaction tax regimes and deal with different collection authorities in England and Wales.
The issues stem from proposals by the independent Commission on Devolution in Wales, chaired by former House of Commons clerk Paul Silk. It was established in October 2011 to review the financial and constitutional arrangements in Wales.
Comments on the consultation should sent by email no later than 10 September.
