Tax Rates and Allowances 2022/23
Income Tax Rates - Wales
Capital Allowances - Plant & Machinery ⭢
Employee's Statutory Payments ⭢
Income Tax Rates - Across the UK ⭢
Income Tax Rates - Wales ⭢
Individual Savings Account (ISA) ⭢
Land and Buildings Transaction Tax ⭢
Mileage Allowance Payments (MAPs) for Employees ⭢
National Insurance Contributions (NIC) - Rates and Allowances ⭢
Pensions Automatic Enrolment ⭢
Pensions - Tax Relief on Pension Contributions ⭢
Vehicle Excise Duty (VED) - Passenger Cars ⭢
- 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 |