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UK: Tax measures in draft budgets for Scotland and Wales

Both draft budgets include proposals relating to property tax relief 

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December 19, 2024

The Scottish Cabinet Secretary for Finance and Local Government on December 4, 2024, delivered the draft Scottish Budget 2025-2026, which includes a temporary 40% property tax relief for properties in the hospitality sector (capped at £110,000 per business), but an increase effective April 1, 2025, in Scottish landfill tax rates in line with previously announced UK landfill tax increases.

The Welsh Cabinet Secretary for Finance on December 10, 2024, presented the Welsh budget plans, which also include a final one-year extension of the temporary 40% property tax relief for properties in the retail, hospitality, and leisure businesses, but a 1% across-the-board increase effective December 11, 2024, in land transaction tax payable on higher residential rates transactions. 

Read a December 2024 report prepared by the KPMG member firm in the UK

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