Bit late for the postman in it
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Just got a letter from HRMC stating the income tax I pay now as a resident , living and earning in Wales , will be set by the Welsh Government ,I guess it could be set higher than the current level, ones personal allowance remains the same as the rest of the UK .
There will be no change in the foreseeable future. Unless of course you are in higher tax brackets.
Don't see how they can change things - is it based on where you live or where you work?
Company payroll software will be a nightmare if it has to maintain two different tax systems that might changes depending on location.
The Welsh Government might have the power but will be reluctant to use it. The Scots have had tax raising powers for years and haven't to my knowledge increased the tax burden on their population.
Is that the tax raising powers that they said the would never want when they were voted in...lol
Second rate politicians voting themselves more powers so they can charge the poor taxpayers for their own economic shortcomings Shock
Were any of that lot down the Bay involved in lying to the public about Brexit
Why aren’t they going to be charged with criminal deception like Johnson Gove and the other twats should be
I voted no to a Welsh assembly so I am not amused that the amount of income tax I pay might be increased. I would be happy to pay extra tax ONLY IF it was ring-fenced for the NHS in Wales and not for increasing the number of AM's or the cost of running the WAG.
what do higher income tax payers these days ?
Over £46k it's 40%. Over £150k it's 45%.
If WAG decides it's going to raise the higher rate, I'll probably just bring forward my retirement date to avoid it.
They're taking their role in keeping Wales as a low-wage economy very seriously to be fair.
Companies are already having to deal with these differences for the Scottish variations.
In 2018/19 Evil Janice Krankie and her finance chums adjusted the rates of income tax here in Scotland. Now there is a starter rate of 19%, then 20%, then 21% and then 41% which kicks in after earning £31,581 above your personal allowance. The top tax bracket of 46% kicks in on earnings of £150,000 above your personal allowance.
In this same year, the rest of the UK pay 40% at £34,501 above the personal allowance, and 45% from £150K.
I have a close eye on the Scottish budget next month as the 40% bracket is moving to £50,000 for the rest of the UK (or £37,500 above the standard personal allowance of £12,500). If the SNP do not at least match the increase of basic rate of £3,000 then middle income earners will fall even further behind their colleagues elsewhere in the UK.
Evil Janice believes that anybody earning over £43,430 is rolling in cash and should be taxed more heavily to assist the poorest in society. I'd like her to knock my door in the next campaign so I can ask her if she thinks my "hourly rate" is excessive, when I factor in the untold hours working at home away from the workplace.
Friends up here believe that the SNP are taking now so they can offer a big financial "give away" when it comes to voting time but I don't buy this at all.
Now whether this rebalancing of tax has increased the tax burden I do not know, but I'd be surprised if it hadn't.
Somewhat agree with the broader point but she isn't responsible for you being a doormat to your employer.
Unfortunately the tax burden isn't on the rich it is on those with relatively high incomes. Policy makers need to approach this more intelligently. At the moment they are hammering those on PAYE until every single one of them is equally poor, whilst the majority of those super rich who have benefited immensely from growing up and living/working here hide their cash somewhere else.