Welsh rates of Income Tax

Source: National Assembly for Wales | | 23/01/2019

The Welsh Government has confirmed that the proposed Welsh Government Budget has been ratified and that the new Welsh rates of Income Tax (WRIT) will be set at 10p for 2019-20. This means that the rates of Income Tax paid by Welsh taxpayers will continue to be the same as those paid by English and Northern Irish taxpayers when the WRIT is introduced.

The WRIT will be payable on the non-savings and non-dividend income of those defined as Welsh taxpayers and WRIT taxpayers will receive a new tax code, starting with C for Cymru. Revenue from the Welsh rates of Income Tax will go to the Welsh Government.

To effect this change the UK government will reduce each of the 3 rates of Income Tax – basic, higher and additional rate – paid by Welsh taxpayers by 10p from next April. Each year, the Welsh Government will then decide the 3 Welsh rates of Income Tax (the Welsh basic rate; the Welsh higher rate; and the Welsh additional rate), which will be added to the reduced UK rates. The combination of reduced UK rates plus the Welsh rates determines the overall rate of Income Tax paid by Welsh taxpayers. The WRIT will be administered by HMRC on behalf of the Welsh Government.

Clarification of who is a Welsh taxpayer:

The definition of a Welsh taxpayer is generally decided by where a taxpayer lives. If the taxpayer has one place of residence or a main residence in Wales, then they will be defined as a Welsh taxpayer.



Contact Us

8-10 Queen Street
Seaton
Devon
EX12 2NY
Tel: 01297 624188

Also in Exeter

13 West Street
Exeter
Devon
EX1 1BB
Tel: 01392 823999

 

Cookie Policy

Latest News

Tenth anniversary of first Debt Relief Order
17/04/2019 - More...
Debt Relief Orders (DROs) were first introduced in April 2009. The DROs assist people who have small levels of assets

Estate Agents targeted
16/04/2019 - More...
HMRC has launched an unannounced crackdown on money laundering regulation non-compliance by estate agents. This

Job related expenses you can claim against your tax
16/04/2019 - More...
If you are an employee and use your own money to buy things that you need for your job, you may be able to claim tax

News Search


Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login