From April 2019, the Welsh government will be able to vary the rates of income tax payable by Welsh taxpayers.
The UK government will reduce the basic, higher and additional rates of income tax by 10p for taxpayers in Wales. The Welsh government will announce the three Welsh rates of income tax in its Budget later this year, which it will add to the reduced UK rates to arrive at the overall rate payable by Welsh taxpayers.
Rather than match the rates of income tax paid by taxpayers in England and Northern Ireland by setting its own 10p rate, the Welsh government has indicated that it ‘may decide to set different rates to reflect Wales’ unique social and economic circumstances’.
Other aspects of income tax will remain with the UK government, and the tax will continue to be collected by HMRC for Welsh taxpayers.
From April 2019, the Welsh government will be able to vary the rates of income tax payable by Welsh taxpayers.
The UK government will reduce the basic, higher and additional rates of income tax by 10p for taxpayers in Wales. The Welsh government will announce the three Welsh rates of income tax in its Budget later this year, which it will add to the reduced UK rates to arrive at the overall rate payable by Welsh taxpayers.
Rather than match the rates of income tax paid by taxpayers in England and Northern Ireland by setting its own 10p rate, the Welsh government has indicated that it ‘may decide to set different rates to reflect Wales’ unique social and economic circumstances’.
Other aspects of income tax will remain with the UK government, and the tax will continue to be collected by HMRC for Welsh taxpayers.
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