Paying tax... UK. Help? (please don't move) Watch

This discussion is closed.
shootingstar
Badges: 0
Rep:
?
#1
Report Thread starter 13 years ago
#1
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.
0
Zurich
Badges: 9
Rep:
?
#2
Report 13 years ago
#2
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.
0
shootingstar
Badges: 0
Rep:
?
#3
Report Thread starter 13 years ago
#3
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.
0
Zurich
Badges: 9
Rep:
?
#4
Report 13 years ago
#4
(Original post by shootingstar)
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.
No, you shouldn't. That's how we earned the title 'tax-dodgers' Well, that and council tax

How long have you been in the job? What usually happens when you start is you get put on a standard tax code. If you shouldn't be paying tax you need to get a form from your employer (Sorry, I can't remember the name/number of it).

You fill it out, saying that you are a full-time student and this is your only job, and send it off to the tax people. You should get a huge tax refund in your next pay cheque :cool:
0
Luize
Badges: 13
Rep:
?
#5
Report 13 years ago
#5
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.
0
Makavelli_07
Badges: 0
Rep:
?
#6
Report 13 years ago
#6
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.
0
Zurich
Badges: 9
Rep:
?
#7
Report 13 years ago
#7
(Original post by Luize)
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.
P11, that's the one.

As long as you earn less than about £10k a year, are a full-time student, and don't work more than your contract hours (above a certain amount), you won't be taxed. Sometimes if you earn more than your limit each month you can be taxed on anything you earn beyond that, but that's rare.

If you fill out and send off the P11, they'll stop taxing you, and refund all the tax you've paid so far!
0
roff
Badges: 2
Rep:
?
#8
Report 13 years ago
#8
You really shouldn't pay tax, we pay as much as 40% what a rip off
0
X
new posts
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Are you chained to your phone?

Yes (68)
19.43%
Yes, but I'm trying to cut back (144)
41.14%
Nope, not that interesting (138)
39.43%

Watched Threads

View All