David T
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Virtually all the answers above are correct, but what they don't tell you is how the free tax allowance works.
If you earn under £5225.00 per year you will not or should not pay tax. However that does not mean tax doesn't start being collect until you have earnt that amount.
It depends on how often you are being paid, what tax has already been deducted when you start with your employer.
Basically it is this, if you are paid weekly then your tax free allowance assuming nothing paid already is £5225.00 / 52 = £100.48, therefore anything above this amount you earn per week will be taxed.
If you are paid monthly then your monthly your monthly tax free allowance = £5225.00 /12 = £435.42, therefore anything above this amount per month will be taxed.
If then at the end of the year the total of your P60's does not exceed £5225.00 as the amount you have earnt, any tax you have paid can be claimed back. But if the total of your P60's exceeds £5225.00 then you will have to pay tax. |
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nic nac
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You can earn £5225 a year before you start paying tax.
If you're paying tax on less contact HMRC to sort it out. |
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Physics-Student
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It depends. If your total income from your part-time work exceeds £5,225 then you will have to pay Income Tax on the excess.
Tax does not depend on number of hours worked but it depends on how much you earn. A director may work only one day a week but his total income may be £100,000. Clearly, he should pay the Income Tax and National Insurance according to his circumstances.
Hope this helps. |
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answer it!
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well if u working for 20 hrs n studying full time...then u dont need to pay tax on tht...but if working more hrs..then u certainly do...
its done monthly basis...
I am a part timer and studying full time...so i know tht |
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yahoobloo
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Everybody pays tax on their earnings - no matter how small - everybody - no exceptions. |
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Mumofthree
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If you go over rthe persoanl tax exempt limit then you have to pay tax |
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James S
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Everyone in the uk who works is eligible to pay tax. However, there is a minimum tax-free personal allowance. This means during the 2007/08 tax year you can earn up to £5,225 before your income is taxed.
Any earnings above this amount are then taxed at 10% up to £2,230; 22% between £2,231 to £34,600; and at 40% on earnings over £34,600.
Students who work only during their holidays and do not expect to earn more than £5,225 should ask their employer to complete form P38(S) which will ensure their wages are paid gross.
This does not apply to evening or part-time work outside normal holiday times. |
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pagreen1966
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Like everyone else they only pay tax if their earnings are above the personal allowance threshold.
This is currently £5,225 (2007/08).
Any earnings below this is exempt from income tax. |
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Subic
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You can get a form P46(S) if you will work only in vacations, and earn less than the current tax threshold (currently £5130 approx. - i may be a few £ out on that). Your employer will then pay you without deducting tax.
If you work during term-time (evening bar work perhaps) or earn over the tax allowance, then you will pay tax.
The 2 criteria are the vacation-working only and the £ earned. Its nothing to do with full or part time. |
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fosyfos
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You probably will pay tax as the inland revenue will know that your working. However, as long as you dont earn over £4650 between April and April you will be able to claim ALL the tax paid back. Any money you earn over £4650 (say £5000) then you will only have to pay tax on £450.
Hope this helps |
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Mrs. Miller
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I have a part time job, am a student and still get taxed :-( |
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James B
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You will probably be due quite a big tax refund.
Check out:
http://www.taxfix.co.uk
I used them and got back over 1000 pounds.
Good luck! |
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