Income tax rates - Wales
2023/24
- 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 |
2022/23
- 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 - 150,000 | Higher rate | 30 | 10 | 40 |
| Over 150,000 | Additional rate | 35 | 10 | 45 |