The Valuation for Rating (Plant and Machinery) (Wales) (Amendment) Regulations 2023

• Citation: S.I. 2023/1229 (W.)
• Sections: 2

Section 1 Title and coming into force

The title of these Regulations is the Valuation for Rating (Plant and Machinery) (Wales) (Amendment) Regulations 2023 and they come into force on 1 April 2024.

Section 2 Amendment to the Valuation for Rating (Plant and Machinery) (Wales) Regulations 2000

(1) The Valuation for Rating (Plant and Machinery) (Wales) Regulations 2000 are amended as follows.

(2) In Class 1 of the Schedule to the Valuation for Rating (Plant and Machinery) (Wales) Regulations 2000 (classes of plant and machinery to be assumed to be part of the hereditament)—

(a) in the words before paragraph (a), after “other than excepted plant and machinery” insert “or, in relation to any day on or after 1 April 2024 and before 1 April 2035, excepted renewables plant and machinery or excepted electric vehicle charging point plant and machinery” ;

(b) after paragraph (d) insert—

(e) “ excepted renewables plant and machinery ” means plant and machinery used or intended to be used for the generation, storage, transformation or transmission of power where the sources of energy or technologies relied upon are mainly or exclusively—

(i) biomass;

(ii) biofuels;

(iii) biogas;

(iv) fuel cells;

(v) photovoltaics;

(vi) water (including waves and tides);

(vii) wind;

(viii) solar power;

(ix) geothermal;

(x) heat from air, water or the ground;

(f) “ excepted electric vehicle charging point plant and machinery ” means plant and machinery which is—

(i) used or intended to be used mainly or exclusively for storage, transformation or transmission of power for an electric vehicle charging point (within the meaning of section 45EA(5) of the Capital Allowances Act 2001 ), and

(ii) within head (d) or (e) of Table 1 below.