Meetings
NDM6719 - Welsh Conservatives debate
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Meeting: 09/05/2018 - Plenary - Fifth Senedd (Item 6)
Welsh Conservatives debate – Land transaction tax on commercial land
NDM6719 Paul
Davies (Preseli Pembrokeshire)
To
propose that the National Assembly for Wales:
1.
Notes that the new six per cent rate of land transaction tax (LTT) on commercial
land transactions above £1 million is significantly higher than the
equivalent rates for such transactions in England (five per cent) and
Scotland (4.5 per cent).
2.
Notes the Welsh Government’s completion on its circa £12 million purchase of the
Cardiff bus station site on 29 March 2018, thus avoiding its own LTT regime by
three days and ensuring the transaction took place under the UK Government’s
stamp duty land tax.
3.
Calls on the Welsh Government, in light of sector representation, to reconsider
the new six per cent LTT rate on commercial land transactions above £1 million
which will have a detrimental impact on economic development in Wales.
The following amendments
have been tabled:
Amendment 1. Julie
James (Swansea West)
Delete
all and replace with:
To
propose that the National Assembly for Wales:
Notes
that:
a)
The rates and bands for land transaction tax were approved by the National
Assembly on 30 January 2018, with no Assembly Members voting against, and that
the rates and bands came into effect on 1 April 2018.
b)
The purchase of Cardiff bus station was not liable for any stamp duty land tax
and would have been exempt from land transaction tax if the sale was completed
under that regime.
Amendment 2. Rhun
ap Iorwerth (Ynys Môn)
Add
as new point at end of motion:
Welcomes
the Assembly's new powers to vary tax rates according to Wales's economic,
social and environmental needs.
Amendment 3. Rhun
ap Iorwerth (Ynys Môn)
Add
as new point at end of motion:
Calls
on the Welsh Government to expedite its work to review all property-related
taxes.
Minutes:
The
item started at 17.00
Voting
on the motion and amendments under this item was deferred until Voting Time.
A
vote was taken on the motion without amendment:
NDM6719
Paul Davies (Preseli
Pembrokeshire)
To
propose that the National Assembly for Wales:
1.
Notes that the new six per cent rate of land transaction tax (LTT) on
commercial land transactions above £1 million is significantly higher than the
equivalent rates for such transactions in England (five per cent) and
Scotland (4.5 per cent).
2.
Notes the Welsh Government’s completion on its circa £12 million purchase of
the Cardiff bus station site on 29 March 2018, thus avoiding its own LTT regime
by three days and ensuring the transaction took place under the UK Government’s
stamp duty land tax.
3.
Calls on the Welsh Government, in light of sector representation, to reconsider
the new six per cent LTT rate on commercial land transactions above £1 million
which will have a detrimental impact on economic development in Wales.
|
For |
Abstain |
Against |
Total |
|
14 |
2 |
33 |
49 |
The
motion without amendment was not agreed.
The
following amendments were tabled:
Amendment
1. Julie James (Swansea
West)
Delete
all and replace with:
To
propose that the National Assembly for Wales:
Notes
that:
a)
The rates and bands for land transaction tax were approved by the National
Assembly on 30 January 2018, with no Assembly Members voting against, and that
the rates and bands came into effect on 1 April 2018.
b)
The purchase of Cardiff bus station was not liable for any stamp duty land tax
and would have been exempt from land transaction tax if the sale was completed
under that regime.
A
vote was taken on amendment 1:
|
For |
Abstain |
Against |
Total |
|
25 |
12 |
12 |
49 |
Amendment
1 was agreed.
Amendment
2. Rhun ap Iorwerth (Ynys
Môn)
Add
as new point at end of motion:
Welcomes
the Assembly's new powers to vary tax rates according to Wales's economic,
social and environmental needs.
A
vote was taken on amendment 2:
|
For |
Abstain |
Against |
Total |
|
49 |
0 |
0 |
49 |
Amendment
2 was agreed.
Amendment
3. Rhun ap Iorwerth (Ynys
Môn)
Add as new point at end of motion:
Calls on the Welsh Government to expedite its work
to review all property-related taxes.
A
vote was taken on amendment 3:
|
For |
Abstain |
Against |
Total |
|
49 |
0 |
0 |
49 |
Amendment
3 was agreed.
A
vote was taken on the motion as amended:
NDM6719
Paul Davies (Preseli
Pembrokeshire)
To
propose that the National Assembly for Wales:
Notes
that:
a)
The rates and bands for land transaction tax were approved by the National
Assembly on 30 January 2018, with no Assembly Members voting against, and that
the rates and bands came into effect on 1 April 2018.
b)
The purchase of Cardiff bus station was not liable for any stamp duty land tax
and would have been exempt from land transaction tax if the sale was completed
under that regime.
Welcomes
the Assembly's new powers to vary tax rates according to Wales's economic,
social and environmental needs.
Calls on the Welsh Government to expedite its work
to review all property-related taxes.
|
For |
Abstain |
Against |
Total |
|
37 |
0 |
12 |
49 |
The
motion as amended was agreed.