I welcome the publication today of the Welsh Revenue Authority’s (WRA) Annual Report and Accounts for 2019/2020. This report covers the second year of the operation of the two devolved Welsh taxes, namely the Land Transaction Tax and Landfill Disposal Tax.
The Report reflects the WRA’s continued progress in building its reputation for the assured and competent collection and management of these two taxes. The WRA continues to champion a collaborative approach to tax collection, working with taxpayers and their agents to ensure the effective and efficient collection of tax through more taxpayers getting their taxes right first time.
The Report reflects the changes made by the WRA to the tax system to make it easier for taxpayers to use. This has worked extremely well with over 98% of returns filed digitally, and also over 98% filed on time. Overall the WRA collected just under £300 million in tax revenues.
During 2019/20 the WRA has continued to improve its performance including a focus on activities such as reducing individual tax risk and educational and engagement activities. This has helped to ensure individuals pay the right amount of tax, including collecting any underpayments, but also paying back any overpayments.
In addition the organisation has maintained services while managing the challenges arising, firstly from the flooding of its head office in QED, Treforest, which led to its closure in February, followed by impact of the Covid-19 pandemic in March.
This is a great example of the benefits of devolution – enabling innovation within Wales, creating a Welsh way of doing tax that is delivering better outcomes for taxpayers and also ensuring tax risks are tackled efficiently and effectively. This money will be kept in Wales and spent on the people in Wales to help improve our public services.
I congratulate the WRA on another successful year of tax collection and administration. The WRA continues to play a key role in the development of our tax devolution journey.
You can access the WRA’s annual report and accounts for 2019/2020 by accessing the below link: