Are you wondering how the Autumn Budget will effect you or your business? If so, I hope that you will find the attached newsletter helpful! Please let me know if you have any questions relating to anything contained within the newsletter.
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Welsh taxpayers will pay Welsh income tax from 6 April 2019, but the Welsh tax rates and bands have initially been set to align with those in England and Northern Ireland. Welsh taxpayers should soon receive PAYE codes with a pre-fix "C" (Cymru).
There was good news for individual taxpayers in the Budget; the personal allowance will rise from £11,850 to £12,500 on 6 April 2019. This will provide taxpayers on the basic rate (20%) with an income tax saving of £130 per year. Those who pay tax at the higher rates will also be pleased that the 40% band will effectively start at income over £50,000 for 2019-20.
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AuthorPhillip Holliday Archives
March 2024
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