Welsh resident taxpayers continue to pay the same overall income tax rates using the UK rates and bands.
The total rate of income tax = UK income tax + Welsh rate of income tax
Savings income and dividend income are taxed using UK tax rates and bands.
Band of taxable income
UK Rate
Welsh Rate
Total Rate
£
%
%
%
0 – 37,700
Basic rate
10
10
20
37,701 – 125,140
Higher rate
30
10
40
Over 125,140
Additional rate
35
10
45
2024/25
Income tax is devolved to Wales.
Welsh resident taxpayers continue to pay the same overall income tax rates using the UK rates and bands.
The total rate of income tax = UK income tax + Welsh rate of income tax
Savings income and dividend income are taxed using UK tax rates and bands.
Band of taxable income
UK Rate
Welsh Rate
Total Rate
£
%
%
%
0 – 37,700
Basic rate
10
10
20
37,701 – 125,140
Higher rate
30
10
40
Over 125,140
Additional rate
35
10
45
Disclaimer
This publication is published for the information of clients. It provides only an overview of the regulations in force at the date of publication and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this publication can be accepted by the authors or the firm.
Registered as auditors and regulated for a range of investment business activities in the United Kingdom by the Association of Chartered Certified Accountants
Company Information Walker Thompson is a trading name of Walker Thompson Ltd registered in England and Wales. Company registration number 06574838
Registered Office Empress House :: 43a Binley Road :: Coventry CV3 1HU :: T 024 7663 5522 :: F 024 7663 5518 :: E clientcare@walkerthompson.co.uk
