Bespoke Tax Accountants

Specialist tax advice, accountancy and tax returns

01242 505970
info@bespoketax.com

  • Home
  • About Us
    • Meet The Team
    • Careers
    • Statutory Information
    • Privacy Policy
  • Who We Help
    • Personal and Family
    • Business
    • Our Clients
  • News
    • Making Tax Digital
  • Giving Back
  • Contact
  • Cloud Accounting
    • Xero

HMRC writes to taxpayers in Wales

5th December 2018 By bespoketax

HMRC writes to taxpayers in Wales

HRMC has written to two million taxpayers in Wales concerning the introduction of the Welsh rates of Income Tax (WRIT) from 6 April 2019. 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. A proportion of the 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 will determine the overall rate of Income Tax paid by Welsh taxpayers. The WRIT will be administered by HMRC on behalf of the Welsh Government.

The Welsh Government has proposed to set the Welsh rates of Income Tax at 10p for 2019-20. This means that the rates of Income Tax paid by Welsh taxpayers, would continue to be the same as those paid by English and Northern Irish taxpayers at least for the first year. As the Welsh rates of Income Tax are not a discrete tax they continue to be covered by existing UK double taxation agreements.

The definition of a Welsh taxpayer is generally focused on the question of 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.

Filed Under: Uncategorised

Recent News

  • Tax Diary March/April 2021
  • Outcome of the Uber case
  • VAT Agricultural Flat Rate Scheme
  • Government to publish range of tax consultations

News Categories

  • Budget Summary
  • Business
  • Capital allowances
  • Capital Gains Tax
  • Construction Industry Scheme
  • Corporate Governance & Regulation
  • Corporation Tax
  • Duties
  • Employee Benefits
  • Employment & Payroll
  • Employment Law
  • Family Tax Credits
  • General
  • HMRC notices
  • Income Tax
  • Inheritance Tax
  • National Insurance
  • NIC & Pensions
  • Overseas personal tax issues
  • Overseas tax issues
  • Payroll
  • Pension
  • Personal
  • Practice News
  • Stamp Duty Land Tax
  • Tax credits
  • Tax Diary
  • Value Added Tax

About Us

Bespoke has a reputation for helping our clients make the most of their financial situations and in turn we have become a trusted extension of their business or family.

Bespoke assist with compliance requirements, providing specialist tax advice, and planning for now and the future.

Keep informed.
Sign up for our Topical Newsletter

Our FREE monthly newsletter will keep you up to date with the latest news related to the world of accountancy.

Register Here

Contact

Delta Place,
27 Bath Road, Cheltenham,
Gloucestershire, GL53 7TH
01242 505970
info@bespoketax.com

ICAEW Chartered AccountantsXERO Gold PartnerChartered Institute of TaxationMember of EISA

Copyright © 2021 · Bespoke Tax Accountants · Website by Culpepper & Co

.
This site uses cookies: Find out more.