Draft Welsh Budget for 2019/20
Draft Welsh Budget for 2019/20
Mon 15 Oct 2018
The Welsh Government has published its Budget proposals. Pages 16 – 22 of the Outline Budget Narrative cover tax policy and tax rates. In summary the highlights are:
- Welsh rates of income tax will not differ from those in the rest of England & Wales for the first year (so the basic rate will be 20%, higher rate 40% and additional rate 45%);
- the current rates of land transaction tax will be maintained; and
- landfill tax rates will increase in line with RPI and the new rates will be laid before the National Assembly for Wales this autumn for agreement in early 2019.
The draft budget remains subject to confirmation by the National Assembly for Wales.
A Welsh Tax Policy Report has also been issued. Links to further information on Welsh tax rates can be found here.
For a further discussion of issues related to devolved UK taxes, please get in contact with a member of the Mazars tax team.
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