Do students get income-taxed in the same way as non-students?

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issawrap
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#1
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#1
If you're getting a student loan
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threeportdrift
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#2
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(Original post by issawrap)
If you're getting a student loan
The student loan doesn't count as taxable income. Otherwise, yes, students are taxed in the same way as anyone else.

(btw, that took 10 seconds to google)
Last edited by threeportdrift; 1 month ago
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Jack22031994
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Student loans arent taxed no but if a student has a job where they earn enough to pay tax, then yes they pay the same as if they werent a student
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Reue
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Absolutely everyone is taxed in the same way for income tax purposes. Doesn't matter if you're 3 or 103, a student or full-time employee.
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McGinger
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If you earn under the 'personal allowance' durung the tax-year, then like anyone else in that position, you will pay NI but not tax.
This is why there is a bot of a myth about 'students nort being taxed' - only because they dont usually earn enough.
The current Personal Allowance is £12,570, which is the amount of income you do not have to pay tax on.
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issawrap
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(Original post by McGinger)
If you earn under the 'personal allowance' durung the tax-year, then like anyone else in that position, you will pay NI but not tax.
This is why there is a bot of a myth about 'students nort being taxed' - only because they dont usually earn enough.
The current Personal Allowance is £12,570, which is the amount of income you do not have to pay tax on.
This is the answer I was after, thank you

So if I earn less than £12,570 a year, I won't be taxed?
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issawrap
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(Original post by McGinger)
If you earn under the 'personal allowance' durung the tax-year, then like anyone else in that position, you will pay NI but not tax.
This is why there is a bot of a myth about 'students nort being taxed' - only because they dont usually earn enough.
The current Personal Allowance is £12,570, which is the amount of income you do not have to pay tax on.
Also what's the minimum income for one to have to pay NI?

Think I read that it's around 9k a year. If I earn less than this in a year, does this mean I won't pay NI nor income tax?

Thanks
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martin7
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(Original post by issawrap)
Also what's the minimum income for one to have to pay NI?

Think I read that it's around 9k a year. If I earn less than this in a year, does this mean I won't pay NI nor income tax?
You need to earn over £184 per week to pay National Insurance.

The key thing about National Insurance, though, is that it's calculated separately for each pay period. It's not like Income Tax, which is calculated across the whole of the tax year.

So, in theory, you could earn as little as £185 in a tax year and still have paid National Insurance
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issawrap
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Alright thanks

And how is the amount of NI you pay calculated? Would this also be the same for students/non-students?

If I earned for example £500 a week, how would I know what the NI amount would be?

martin7
Last edited by issawrap; 1 month ago
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martin7
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#10
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(Original post by issawrap)
And how is the amount of NI you pay calculated? Would this also be the same for students/non-students?
You pay 12% of your earnings between £184.01 and £967 per week. Students and non-students pay the same.

If I earned for example £500 a week, how would I know what the NI amount would be?
It would be (500-184)*0.12 = £37.92.

Start here: https://www.gov.uk/national-insurance for more information.
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