Welsh government to introduce distinct income tax rates Welsh government to introduce distinct income tax rates
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  1. #1

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    Default Welsh government to introduce distinct income tax rates

    "The Welsh government will introduce distinct rates of income tax for UK taxpayers residing in Wales from April 2019.

    The new Welsh rates of income tax have been announced as part of the Welsh government’s Draft Budget 2018-2019 outline proposals report, published in October 2017. The report outlines the fiscal framework agreed by both Welsh and UK governments in December 2016, which proposed that the three income taxes imposed by UK government are reduced by £0.10 for UK taxpayers who live in Wales. Welsh ministers will then recommend that the Welsh rates of income tax be applied in addition to the reduced UK income tax rates. The National Assembly will then vote on the new Welsh rates, which are due to come into effect from April 2019.

    The majority of income tax responsibilities, such as setting the personal allowance, setting the income thresholds at which tax rates will apply, and the taxation of income from savings and dividends, will still be carried out by UK government, with HM Revenue and Customs (HMRC) continuing to administer and collect income tax payments.

    The Welsh government has assumed there is no net budgetary impact from the introduction of Welsh rates of income tax for the 2018-2019 tax year, however ministers have provided indicative allocations for 2019-2020 in the draft budget, estimating that 13% of the Welsh government’s funding will be derived from the Welsh rates of income tax."

    https://www.employeebenefits.co.uk/i...ome-tax-rates/


  2. #2

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    There's tidy.

    Does it affect normal people, i.e. those of sound mind, who have decided to live somewhere civilised?
    Three-and-a-half years, two extensions, seven defections, 21 deselections, three prime ministers, countless amendments, two prorogations, one Supreme Court judgement, 66 million Brits losing the will to live and were still at square one...

  3. #3

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    I like these bits:

    1. "three income taxes imposed by UK government are reduced by £0.10" - ten pence refund
    2. "the Welsh rates of income tax be applied in addition to the reduced UK income tax rates" - new massive taxes on top

    Croeso Cymru



    P.S. They might have to introduce new toll on exiting Wales on that bridge...

  4. #4

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    Any hints on the personal allllywyns?
    Where there's muck there's brass.

  5. #5

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    Quote Originally Posted by northernladyuk View Post
    Any hints on the personal allllywyns?
    Yeah, you caernarfany.

  6. #6

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    The Welsh government has to find money to make up for the lost EU regional funding after Brexit.
    Brexiteers remind me of religious fanatics, only faith, no facts.

  7. #7

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    Quote Originally Posted by Paddy View Post
    The Welsh government has to find money to make up for the lost EU regional funding after Brexit.
    Well they're not going to find it by taxing the people who are most likely to avoid the place like a plague-pit once the taxes come in (i.e. those who will be paying it). And since it was money paid in part by the Welsh taxpayers to the EU in the first place, perhaps some way of refunding their contribution could be found. Just a thought...
    His heart is in the right place - shame we can't say the same about his brain...

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    Quote Originally Posted by northernladyuk View Post
    Any hints on the personal allllywyns?
    Should it matter? I thought you were a cash in hand bra operation?

  9. #9

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    Quote Originally Posted by AtW View Post
    I like these bits:

    1. "three income taxes imposed by UK government are reduced by £0.10" - ten pence refund
    2. "the Welsh rates of income tax be applied in addition to the reduced UK income tax rates" - new massive taxes on top

    Croeso i Gymru



    P.S. They might have to introduce new toll on exiting Wales on that bridge...
    FTFY.

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