[kopite493]

full time studdent and you only pay NI

[Illusionary]

(Original post by kopite493)
full time studdent and you only pay NI

Please read my post immediately above yours. This is untrue.

[OU Student]

(Original post by kopite493)
full time studdent and you only pay NI

Many full time students don't pay tax because they don't earn enough money.

[randomguy786]

(Original post by Illusionary)
Ths isn't correct - you're not eligible to use the form P38(S) procedures unless you're a student working only in holiday periods, currently enrolled on a course that will continue until at least the next 5 April. You're not yet enrolled (especially given that your offer is only conditional) so you've signed a declaration on the form that isn't true. You need to inform your employer and complete a form P46 instead (link). You'll then be taxed just as any other UK-resident employee would. This doesn't necessarily mean that you'll have any Income Tax deducted from your pay - in your case, while the calculations aren't immediately straightforward (they work on a cumulative basis, comparing your cumulative income to date for the year to the proportion of your 'personal allowance' that relates to the length of time since the start of the tax year.

The 'personal allowance' is an amount of income that you can receive in the tax year without paying any Income Tax. It's currently £8,105 for most UK resident individuals.

Hmm, I see. What will happen if I don't say anything to my employer? I'll probably only earn around £1000 max during the holidays so I will get the income tax back through personal income anyway so I don't see the point.

[Illusionary]

(Original post by randomguy786)
Hmm, I see. What will happen if I don't say anything to my employer? I'll probably only earn around £1000 max during the holidays so I will get the income tax back through personal income anyway so I don't see the point.

Probably nothing, but it's very much inadvisable to make false declarations in relation to tax and can result in penalties and/or interest being charged. If you're only going to earn £1,000, being taxed correctly would probably also result in no Income Tax deductions being made.

[boba]

(Original post by Eridani)
You only pay 20% for everything above the tax free threshold, so £8,105 would be tax free. 20% of £3,335, which is £667 would be the total amount of income tax paid over the year.
Income tax paid per week = £12.82
National insurance is 12% of the amount you earn between £146 and £817 per week, which in this case is £74. 12% of £74 is £14.80.
NI paid per week = £14.80

The second part of the quoted post about claiming overpaid tax is correct.

If I've made a mistake, let me know.

no your completely right I missed the step of minusing the personal allowance from the total wage out woops

[kopite493]

(Original post by Illusionary)
Please read my post immediately above yours. This is untrue.

my lawyer says otherwise

[Eridani]

(Original post by kopite493)
my lawyer says otherwise

Your lawyer is wrong.

[Illusionary]

(Original post by kopite493)
my lawyer says otherwise

There's little more that I can say other than to reiterate what Eridani says above - they're wrong and I suggest that if you want tax advice, you ask a qualified tax advisor and not a lawyer.