Income Tax – Welsh taxpayers
Income Tax – Rates & Bands (non-savings and non-dividend income for Welsh taxpayers)
| Rate | 2023/2024 (Threshold) | 2023/2024 (Rate) | 2024/2025 (Threshold) | 2024/2025 (Rate) |
|---|---|---|---|---|
| Basic rate | £12,570* | 20% | £12,570* | 20% |
| Higher rate | £37,300* | 40% | £37,300* | 40% |
| Additional rate | £125,140** | 45% | £125,140** | 45% |
*£37,700 + £12,570 = £50,270
The Personal Allowance reduces by £1 for every £2 of income above £100,000 irrespective of age (under the income threshold).