Business
New Welsh taxes come into force

ON APRIL 1 2018, the first Welsh taxes for almost 800 years ‘went live’.
The new Land Transaction Tax (LTT) and Landfill Disposals Tax (LDT) will replace UK Stamp Duty Land Tax (SDLT) and Landfill Tax (LfT) respectively.
These taxes will be collected and managed by the Welsh Revenue Authority (WRA).
LAND TRANSACTION TAX
The Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 will legislate for LTT in Wales. The Cabinet Secretary for Finance, Mark Drakeford, announced the new LTT rates and bands alongside the draft budget in October 2017. However, in response to the UK Autumn Budget in November 2017, he revised the rates and bands for residential properties in December 2017.
LTT will be based on a marginal rate system like SDLT, which means the purchase price is taxed at a specific rate which applies to that band. For example, table 1 below shows that a £190,000 residential property would be exempt from the first £180,000 with LTT charged on the remaining £10,000 at 3.5%.
RESIDENTIAL PROPERTIES
The proposed LTT rates and bands for residential properties are different to those that are currently in place in Wales under SDLT. As shown, residential properties up to £180,000 are exempt from LTT in Wales whilst it is currently properties up to £125,000 for SDLT.
The Cabinet Secretary for Finance commented that “this new threshold, which is £55,000 higher than the starting threshold for SDLT will reduce the tax burden for around 24,000 homebuyers in Wales.” Additional rate for residential properties.
In November 2015, the UK Government announced the higher rates of SDLT would apply from 1 April 2016 to purchases of additional residential properties, such as second homes and buy-to-let properties.
In response to this, the Welsh Government decided to impose an additional rate for LTT of 3% on all price thresholds.
NON-RESIDENTIAL PROPERTIES
There are also differences in rates and bands between LTT and SDLT for non-residential properties. LTT in Wales will include an additional rate for properties over £1 million. Individuals will pay less LTT for properties between £150,000 and £250,000 when compared to SDLT but more for properties over £1 million.
The price threshold for incurring a 2% LTT rate for non-residential lease rents is £3 million lower than SDLT. The Welsh Government explained this is due to generally lower lease rates in Wales meaning very few transactions would pay the top rate of LTT if it was consistent with SDLT.
LANDFILL DISPOSALS TAX
The Landfill Disposals (Wales) Act 2017 legislates for LDT, which will replace UK LfT in Wales from 1 April 2018. It will be a tax on the disposal of waste to landfill payable by landfill site operators. LDT will consist of a lower and standard rate like LfT but will also include a new unauthorised disposals rate.
In the Welsh Government 2018-19 budget, the Cabinet Secretary for Finance confirmed that the lower and standard rates of tax will remain consistent with LfT for 2 years with the unauthorised disposals rate set at 150% of the standard rate.
Professor Drakeford said: “The Landfill Disposals Tax Communities Scheme recognises there can be a negative impact for communities through the disposal of waste.
“Funding from the scheme will directly benefit the environment for those who live near a landfill site helping to offset the impact of waste to landfill.
“Grants of £5,000 to £50,000 will be available to projects in 2 bidding rounds every year and one project will receive funding of up to £250,000 a year.”
WELSH REVENUE AUTHORITY
The Welsh Revenue Authority (WRA) has been established to manage and collect devolved taxes in Wales. The WRA was established in October 2017 and is the first non-ministerial department to be set up by the Welsh Government. The authority will operate independently from Welsh Government and be accountable to the Assembly.
Business
Business leader takes on 414-mile Easter cycling challenge

A LEADING west Wales businesswoman is preparing for an epic 414-mile cycling journey from Fishguard to London to raise funds for children and families living in poverty.
Amy Seppman, Marketing Director at JCP Solicitors and President of Swansea Bay Business Club, will set off on Thursday (April 17) on a six-day bikepacking challenge alongside her friend and fellow fundraiser, Hollie Labunsky.
The pair will complete the journey entirely unsupported, carrying all their gear as they follow the scenic but demanding National Cycle Route 4 through the Welsh countryside and into the heart of London.
The challenge forms part of Amy’s efforts to raise £40,000 for Swansea-based charity Faith in Families, which supports vulnerable children and families across the region. With more than £38,500 already raised, Amy hopes the ride will push her over the fundraising finish line – with time to spare for further events later this year.
Speaking ahead of the challenge, Amy said: “Faith in Families is an incredible local charity doing vital work in our communities. As part of my presidency at Swansea Bay Business Club, we’ve been raising funds through various events – but this one might be the toughest yet.
“We’ll be cycling for six days straight, tackling hills, country lanes, and city streets – all with our backpacks strapped to our bikes. It’s going to be gruelling, but it’s nothing compared to the daily challenges many families in our area face.
“Whether you can donate, cheer us on, or share our story – it all makes a difference.”
Amy will be joined by Hollie Labunsky, a teacher of Economics, Criminology and Business at Treorchy Comprehensive School, who shares both her passion for cycling and her commitment to the cause.
The pair’s route is as follows:
- Day 1: Fishguard to St Clears – 66 miles
- Day 2: St Clears to Llanelli – 53 miles
- Day 3: Llanelli to Caerphilly – 63 miles
- Day 4: Caerphilly to Bath – 75 miles
- Day 5: Bath to Windsor – 107 miles
- Day 6: Windsor to Greenwich – 50 miles, finishing with a ride through Central London
Cherrie Bija, CEO of Faith in Families, described the cyclists as “absolute superheroes.”
She said: “Amy and Hollie are absolute superheroes. Their journey isn’t just about miles – it’s about impact. Every pedal they push brings us closer to helping more children in crisis, more families in need, and more communities in recovery.”
Faith in Families delivers critical support to families affected by poverty, trauma and crisis. Through initiatives such as Community Cwtches, one-to-one therapy, family support, and Wales’ first Multibank – Cwtch Mawr – the charity provides essentials including clothing, hygiene products, school uniforms and warm bedding to those most in need.
To support Amy and Hollie’s Easter ride and help Faith in Families continue its vital work, donations can be made at: https://localgiving.org/fundraising/Fish-Don
Business
New build property in Begelly to become holiday let

AN APPLICATION to demolish a Pembrokeshire storage building, replacing it with a new build holiday let has been granted, after a previous scheme for its conversion was refused, only being allowed on appeal.
In the application to Pembrokeshire County Council, K & M Ferney, through agent James Dwyer Associates, sought permission to replace the building with a new holiday let at Chronicle Park, Parsonage Lane, Begelly.
The initial 2021 application for a change of use was refused by county planners but allowed on appeal in late 2022.
A supporting statement said: “The planning inspector, in their decision, confirmed the proposal to convert a storage building into a holiday let, including an increase in the height of the building and the addition of a porch, met the local planning authority’s policies and should be allowed.
“In short, the proposal was acceptable in principle as well as in relation to its effect on the character of the surrounding location.
“Given it is now established that a building for holiday lets of that scale and in that location, is acceptable, it is not unreasonable to seek to ensure that the development is the best it can be in terms of its appearance, outlook, facilities, car parking, and importantly the privacy and enjoyment of those using the holiday let, and those occupying the adjacent dwelling.
“Accordingly, the most practical solution would be to provide a new building of the same scale, as approved, to meet those aims, and in doing so provide a structure that meets the latest environmental and sustainability requirements, rather than the inevitable compromised outcome, in converting an existing building of relatively poor quality.”
An officer report for the latest application, recommending approval, said: “The proposal is to replace an existing storage building located within the curtilage of Chronicle Park which has extant planning permission for a change of use and conversion into a holiday let.
“The new building would also be for holiday use and would have positive social impacts through the provision of additional accommodation on offer within the local vicinity. It would have positive economic benefits by providing an income stream to the applicant, expenditure on building materials and labour during the construction phase and expenditure from tourists within the local economy.”
The application was conditionally approved by county planners.
Business
Lights, Cymru, action: Netflix brings £200 million boost to Wales

Major productions support 500 Welsh businesses and launch careers for local creatives
NETFLIX has revealed that its productions in Wales have generated more than £200 million for the UK economy since 2020, cementing Wales as a vital hub for the global streaming giant.
The announcement, made in partnership with Creative Wales, highlights the scale of Netflix’s investment in the region and celebrates the impact of its latest project — Havoc — the largest feature film ever shot entirely in Wales.

Directed by Welsh filmmaker Gareth Evans and starring Tom Hardy, Havoc was filmed across a range of Welsh locations. The action-thriller follows a bruised detective as he navigates a criminal underworld to rescue a politician’s estranged son following a botched drug deal.
Wales has steadily become a filming powerhouse for Netflix, with previous productions including Sex Education, The Crown and The Witcher. A newly published report showcases the scale of investment and its ripple effect across sectors. For every £1 spent by Netflix in Wales:
- 58p is spent in TV and film production
- 7p in rental and leasing
- 5p in the creative arts
- 3p in food and hospitality
- 27p across other sectors of the economy
In addition, each £1 spent has created an extra 80p in supply chain spending, boosting industries indirectly connected to filming.
Supporting local talent
Netflix has not only brought blockbuster productions to Wales, but also helped launch careers in the creative industries. Over 60 trainee and apprenticeship roles were created during the filming of Sex Education, many of which led to full-time work.
In another initiative, Netflix partnered with the National Youth Theatre to deliver its IGNITE Your Creativity programme, reaching over 350 young people in Newport, Cardiff, Port Talbot, Torfaen and Bridgend with workshops aimed at building skills and confidence.

Championing the Welsh language
As part of its ongoing commitment to Welsh culture, Havoc will be available with Welsh-language subtitles. Previous Netflix hits including The Adam Project and Red Notice also featured Welsh subtitles, and in 2023 the platform licensed Dal y Mellt, its first Welsh-language drama.
Praise from industry and government
Anna Mallett, Vice President of Production for Netflix UK, said: “From Sex Education to The Crown, and now Havoc, some of our most beloved titles were filmed or produced in Wales. Blessed with incredible creative talent and beautiful landscapes, Wales is an amazing place to make entertainment. We’re proud our productions here continue to offer enduring cultural and economic benefits.”
Welsh Culture Minister Jack Sargeant added: “We are immensely proud of our creative industries, which employ over 35,000 people and benefit from world-class infrastructure. As this report shows, welcoming high-profile Netflix productions has delivered significant economic and reputational gains for Wales.”
Joedi Langley, Interim Head of Creative Wales, said: “Collaborating with Netflix brings jobs, training, and major economic benefits to our communities. We look forward to continuing this relationship and building Wales’s profile as a go-to destination for major productions.”
Director Gareth Evans said: “Filming Havoc in Wales was a thrilling experience. The impact of a production of this scale on local businesses and creatives has been incredible. I hope this paves the way for even more filmmakers to choose Wales to tell their stories.”
Local voices: Training and trade
Johnny Gurnett, a former Netflix trainee, credited the company with launching his career: “Getting your foot in the door can be really tough, and this was my first job in the industry. Since then, I’ve worked on Disney’s Willow, BBC’s Lost Boys and Fairies, and HBO’s Rain Dogs. I wouldn’t be where I am now without the experience and connections I made on Sex Education.”
Adam Charles, Head Chef at The Healthy Hangout, shared his business’s role in the production: “We provided meals for some of the stars, which was brilliant for business. But beyond that, there’s a sense of pride in knowing our food was part of something this big.”
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