The Student Room Group
When you earn over x amount of money, aged over 18 and no longer a full time student. xx
When you have sufficient income, at any age at all. You don't even need a job since you can have unearned income from investments you may have received from a friend or relative, or a bequest.



Edited to add (in the light of the post above mine) that your status as a student is irrelevant.
Reply 3
blinkbelle
When you earn over x amount of money, aged over 18 and no longer a full time student. xx


Completely wrong. You can pay taxes at any age and it doesn't matter if you are in full time education or not. Everyone pays tax if the earn over £5,435 in a year.
flipshot
Completely wrong. You can pay taxes at any age and it doesn't matter if you are in full time education or not. Everyone pays tax if the earn over £5,435 in a year.

:confused: That's what my tax office told me. And I wasn't completely wrong, you do get taxed if you earn over x amount/year!
What's the point in filling in forms for the HMR&C declaring yourself to be in full time education if it doesnt affect taxation? x
blinkbelle
:confused: That's what my tax office told me. And I wasn't completely wrong, you do get taxed if you earn over x amount/year!
What's the point in filling in forms for the HMR&C declaring yourself to be in full time education if it doesnt affect taxation? x



It is simply that, if you are in full time education, they will know not to devote too much effort on tracking down how you earn a living, and to expect claims for tax refunds.

If the tax office told you students don't pay tax at all, then they were simply wrong. Most students don't, of course. But some, such as young acting stars certainly do.
Reply 6
flipshot
Completely wrong. You can pay taxes at any age and it doesn't matter if you are in full time education or not. Everyone pays tax if the earn over £5,435 in a year.


This year it's £6,035. But other than that, you are correct. To the OP, they probably had you fill out a P38(S) to have your holiday work income paid free of tax, since it's unlikely you would earn anywhere near that amount.

Marcus
Reply 7
marcusfox
This year it's £6,035. But other than that, you are correct. To the OP, they probably had you fill out a P38(S) to have your holiday work income paid free of tax, since it's unlikely you would earn anywhere near that amount.

Marcus



I didn't think it had gone up yet. If so someone needs to tell whoever updates their website. It still has the old figure up for 08/09 .

http://www.hmrc.gov.uk/rates/it.htm
Good bloke
It is simply that, if you are in full time education, they will know not to devote too much effort on tracking down how you earn a living, and to expect claims for tax refunds.

If the tax office told you students don't pay tax at all, then they were simply wrong. Most students don't, of course. But some, such as young acting stars certainly do.

wow okay then. random x
Reply 9
flipshot
I didn't think it had gone up yet. If so someone needs to tell whoever updates their website. It still has the old figure up for 08/09 .

http://www.hmrc.gov.uk/rates/it.htm


Well, they have a thingy on their website mentioning Darling's announcement. And for the purposes of tax paid for a year, it has gone up, but tax is being deducted as normal until September, from then you get a correction of £120 each month into your pay packet. Or however much you're entitled to if you earn more than £5,435 but less than £6,035

Marcus
Reply 10



i don't get it.

do you pay a % of what you earn? (if so, how much)?

or from that website, do people ages 75+ pay 9k a year in taxes?
jhomie
i don't get it.

do you pay a % of what you earn? (if so, how much)?

or from that website, do people ages 75+ pay 9k a year in taxes?


20% of anything over £6,035 and 40% of anything over £34,800. Also National Insurance, which is technically an income tax. 11% of anything over £90 a week.

Marcus
Just too hijack the thread


Im currently working 2 jobs, a tempory job, 12 weeks. and will be earning roughly £3000..its beetween sixth form and university

and my current job, which gives me roughly £1700 a year..which is permanent

whats the tax situation with this, I've put my tempory job as my main job..and my current in the emergency tax section..


what the hell is going on with the tax?? Will i even get taxed??
anna_spanner89
Just too hijack the thread


Im currently working 2 jobs, a tempory job, 12 weeks. and will be earning roughly £3000..its beetween sixth form and university

and my current job, which gives me roughly £1700 a year..which is permanent

whats the tax situation with this, I've put my tempory job as my main job..and my current in the emergency tax section..


what the hell is going on with the tax?? Will i even get taxed??


If you earn under the threshold of £6,035 in total, you shouldn't pay tax. However, the situation is complicated by the fact that you have two jobs. This confuses HMRC as they are not able to take into account money earned in another job whilst calculating your month by month or week by week figures, since this is done by your employer's payroll software based on the tax code given to them by HMRC.

What you do is ask your employer to give you a P46, for your main job. This will give you a tax code of 543L. This means that your personal tax allowance is £5,435 (£6,035, but you don't see the benefits of the increase until September). Your second job will have a tax code of BR or Basic Rate. Tax is deducted at 20% on everything earned from the second job.

When you get your P60 from both jobs in April, you add up how much you earned in total and add up how much you paid in tax in total. Then if the amount you earned is under £6,035, or if you earned more than this, but you paid more than 20% of the difference, you are entitled to a refund of your tax. Go to the tax office with your P60s or write them a letter, and they will arrange a refund within a few weeks.

In fact if you earn more than £90 a week in both jobs, but less than £90 a week for each one, you should be paying National Insurance too, but I wouldn't chase it up.

Marcus
marcusfox
If you earn under the threshold of £6,035 in total, you shouldn't pay tax. However, the situation is complicated by the fact that you have two jobs. This confuses HMRC as they are not able to take into account money earned in another job whilst calculating your month by month or week by week figures, since this is done by your employer's payroll software based on the tax code given to them by HMRC.

What you do is ask your employer to give you a P46, for your main job. This will give you a tax code of 543L. This means that your personal tax allowance is £5,435 (£6,035, but you don't see the benefits of the increase until September). Your second job will have a tax code of BR or Basic Rate. Tax is deducted at 20% on everything earned from the second job.

When you get your P60 from both jobs in April, you add up how much you earned in total and add up how much you paid in tax in total. Then if the amount you earned is under £6,035, or if you earned more than this, but you paid more than 20% of the difference, you are entitled to a refund of your tax. Go to the tax office with your P60s or write them a letter, and they will arrange a refund within a few weeks.

In fact if you earn more than £90 a week in both jobs, but less than £90 a week for each one, you should be paying National Insurance too, but I wouldn't chase it up.

Marcus



OK

SO main job = tesco, get a p60 from then, THEN go too my second job (john lewis) and get put on a 'basic rate' too get 20% tax taken off??

and then national insurance is no problem..

am i right?
anna_spanner89
OK

SO main job = tesco, get a p60 from then, THEN go too my second job (john lewis) and get put on a 'basic rate' too get 20% tax taken off??

and then national insurance is no problem..

am i right?


No not exactly, you need to fill out a P46, but only if your tax code for that job is not 543L. A P60 is an end of year earnings statement, you will get one from both jobs. Don't need to do anything for your second job. BR should be your tax code on that anyway. Check your payslips for your tax codes.

Strictly speaking if you are earning over £90 a week, National Insurance should be deducted. But if you earn less than £90 in either job, it usually wont be.

Marcus
Original post by jhomie
hi,

this might be a silly question, but when do you start paying taxes?

When you're 18? 21? When you have a job/income?

I'm 16 and a apprentice green keeper, I got to college, and am on 14'508 a year gross. Am I entitled to any tax back ? I also pay national insurance😊