New Vacant Land Tax Proposed by Welsh Government

Vacant Land Tax

The Welsh Government’s Finance Secretary, Mark Drakeford, has recently proposed a punitive tax on vacant land which is not used for building.

There are few details currently available, but it appears that this tax is intended to target vacant development land held by developers or those who speculatively accumulate plots. However there is a risk that in practice the proposed “Vacant Land Tax” could discriminate against private rural landowners who possess land within county Local Development Plans.

The concern is that the type of small rural plots owned by many farmers may not be viable to develop. This tax could have unintended consequences and cause significant financial problems in the rural economy, if it is not targeted correctly.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s