Have I been wrongly taxed?

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eggfriedrice
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I received my payment slip today and I don`t completely understand the numbers.

I`ve just finished my first year of university and am working fulltime in an Engineering office (kind of like an intern). I work 7.5 hours a day, 37.5 hours a week, and get £250 a week.

I was under the assumption that as a student, I don`t need to pay income tax. My pay slip was for working for 8 weeks (since I missed last months pay day) which comes to £2000, however i have been deducted £160. Where does this come from? Is this income tax? National insurance tax?

Any help will be appreciated, thanks!

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lamyers1
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It'll most likely be national insurance, which you pay if you earn more than £153/week

https://www.gov.uk/student-jobs-paying-tax
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Reue
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(Original post by eggfriedrice)
I was under the assumption that as a student, I don`t need to pay income tax.
Your assumption is wrong. It makes no difference if you are a student or not. This misconception comes around because most students dont earn enough to go over the tax-free allowance.

What is your tax code on the payslip?
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themightysals
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Its National insurance. I pay out about the same each month on my placement, its not tax.

Just for your own records, do you get a proper payslip with it all on either online or by post? you cant then track this properly.
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eggfriedrice
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(Original post by Reue)
Your assumption is wrong. It makes no difference if you are a student or not. This misconception comes around because most students dont earn enough to go over the tax-free allowance.

What is your tax code on the payslip?
1000L


(Original post by themightysals)
Its National insurance. I pay out about the same each month on my placement, its not tax.

Just for your own records, do you get a proper payslip with it all on either online or by post? you cant then track this properly.
I'm not sure what you mean by a "proper" payslip? I was giving an envelope and inside was the payslip. And what do you mean I can't properly track it?


But thanks everyone, it seems like it is national insurance.
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Emma:-)
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(Original post by eggfriedrice)
I received my payment slip today and I don`t completely understand the numbers.

I`ve just finished my first year of university and am working fulltime in an Engineering office (kind of like an intern). I work 7.5 hours a day, 37.5 hours a week, and get £250 a week.

I was under the assumption that as a student, I don`t need to pay income tax. My pay slip was for working for 8 weeks (since I missed last months pay day) which comes to £2000, however i have been deducted £160. Where does this come from? Is this income tax? National insurance tax?

Any help will be appreciated, thanks!

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On the deductions part of your payslip it should actually say whether the £160 that has been deducted is tax or national insurance. And just because you are a student- it doesnt mean you dont pay tax- everyone pays tax if they earn over the threshold. Its just that most students dont earn enough to get taxed.
If in doubt- phone the tax office to double check. You should be able to find the number by doing a quick google search.
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themightysals
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(Original post by eggfriedrice)
1000L




I'm not sure what you mean by a "proper" payslip? I was giving an envelope and inside was the payslip. And what do you mean I can't properly track it?


But thanks everyone, it seems like it is national insurance.
As in a payslip that has your breakdown on so it should say how many billable hours you have worked, you tax code, name address etc on it. it will then breakdown what you get paid so usually you get your gross pay, the calculated NI and tax and then net pay with these figures deducted. it will also state exactly what it is your are paying for those two categories. you can then see/track what tax/NI/hours etc that you have worked towards and paid.
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Hedgeman49
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(Original post by eggfriedrice)
I received my payment slip today and I don`t completely understand the numbers.

I`ve just finished my first year of university and am working fulltime in an Engineering office (kind of like an intern). I work 7.5 hours a day, 37.5 hours a week, and get £250 a week.

I was under the assumption that as a student, I don`t need to pay income tax. My pay slip was for working for 8 weeks (since I missed last months pay day) which comes to £2000, however i have been deducted £160. Where does this come from? Is this income tax? National insurance tax?

Any help will be appreciated, thanks!

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Assuming your salary is £12k you will pay around £30 of income tax and £50 of NI per month (rough calculation) so yes you are being taxed correctly and you are paying a small amount of income tax.
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