Tax on a £33,000 salary and £10,000 of dividends in Wales (2026-27)
With a £33,000 salary and £10,000 of dividends in Wales, you pay £1,021 of dividend tax in 2026-27. Your salary also bears £4,086 of Income Tax and £1,634 of National Insurance. You keep £36,259 in total.
| Salary | £33,000 |
| Dividends | £10,000 |
| Income Tax on salary (Wales rates) | £4,086 |
| Employee National Insurance on salary | £1,634 |
| Dividends in the £500 dividend allowance (0%) | £500 |
| Dividends taxed at 10.75% | £9,500 |
| Dividend tax | £1,021 |
| Take-home after all tax and NI | £36,259 |
How this is worked out
Dividends sit on top of your other income. Any Personal Allowance (£12,570) your salary does not use covers dividends first, then the first £500 of dividends is taxed at 0%. The rest is taxed at 10.75% in the basic rate band, 35.75% in the higher rate band and 39.35% above it.
Welsh Income Tax rates for 2026-27 are 20%, 40% and 45%, the same as in England. Dividends are taxed at the same rates across the UK, so only the tax on the salary depends on where you live.
Assumptions: 2026-27 rates, tax code 1257L, no other income, salary paid through PAYE with Class 1 employee NI (dividends carry no NI). Figures are rounded to the nearest pound.
Sources: Tax on dividends (GOV.UK), Income Tax rates and allowances (GOV.UK), Income Tax in Wales (GOV.UK), National Insurance rates and categories (GOV.UK)