Ok, just wondering if anyone knows the details on this.
I'm currently working part time, 16.5 hours a week (sometimes more), at 4.85 GBP an hour.
I'm paid monthly, and for 57.5 hours, after tax I recieved 217.00 (give or take a few pence).
Anyway. I'm not sure whether I should be taxed at this rate or not.
If so, what is the tax rate (percentage) of wages that should be paid? Kinda confused on this one.
There are different tax rates.
It depends on how old you are, how many hours a week you're contracted to compared to how many you work, and whether you're a full-time student.
I'm a full time student, 20 yrs, contracted to 16.5 hours a week and usually work these. From something someone else posted on another site, it sounds like I shouldn't be paying tax at all.
If your tax code is BR then that is the emergency tax code.
I think it's a P11 that you fill out (but not entirerly sure) just stating that you are a full time student.
You can get the tax that you have paid already back somehow as well. Can't quite remember how though.
I doubt very much you should be paying tax. Depending on what your tax code is, you have a certain amount of 'taxable free income' which you obviously don't pay tax on. Then you have an amount, i think it's roughly £1900 on which you get taxed at the lower rate, and then anything over that is at the higher rate.
They will calculate how much you need to pay over the tax year, and then divide it by 52. That's how much tax you should pay.
As you're VERY unlikely to earn much before the tax year ends, you shouldn't pay anything. You will most likely get a tax rebate at the end of the TY, but you could always go into the local office and get a P50 form and send off for a rebate.
You really shouldn't pay tax, we pay as much as 40% what a rip off