12 December 2024
The Welsh draft budget, delivered on 10 December 2024, was another statement highlighting the importance of growth. Aiming to support small businesses and public services, it promised record capital spending.
For payroll professionals in the UK the key item will be the Welsh rates of income tax (WRIT), which have been confirmed to remain unchanged for the 2025-26 tax year. This means that Welsh taxpayers will remain at parity with the rest of the UK (aside from Scotland).
The budget document explains how WRIT is structured if you want to understand their devolved powers further.
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