Pavan
 |
You would get taxed in UK but not in your home country. |
|
brand_new_monkey
|
Are you American? You will be taxed in the UK, and also in the USA if (and only if) you make over a certain amount of money in the UK. But it's a large sum. I doubt you will make it on a student salary. You still need to file taxes at the end of the year in the USA. |
|
?
 |
It depends on how much you earn. Up to a certain amount you don't pay tax. It's about £30-40. You should check with your tax office. |
|
?
 |
Not if you apply for student relive |
|
robovski
 |
Yes. |
|
mattymalone
|
ignore all the other answers... simple fact if you earn over £5030 in the 06/07 tax year then yes you have to pay tax regardless if you are a student, single, married etc. its the standard personal allowance if you are A UK RESIDENT. the common perception is students don't pay tax because they simply don't earn enough. |
|
Cheeky Chops
|
You will not be taxed as long as your earnings are under 6000 a year. However, to stop national insurance automatically being deducted, you and your employer need to fill in a P46 form and a P38. Your employer should be able to get hold of these. However, if you are lucky enough to earn over 6000 in this financial year, you will be liable for tax on the additional amount (22% or something i think). But all this only applied if your course is full time.
If you need more advice, your Students' Union will know all about it, or failing that, your Citizens' Advice Beauru. |
|
Mike10613
|
It depends on your income. The first £5000 a year is tax free - then a 20% tax band - then a higher tax band and so on - plus you have to pay National Insurance. But National Insurance entitles you to lots of stuff including health care and financial benefits if you can't work. You can also make capital gains of £8,800 a year tax free. capital gains are like selling shares at a profit, or selling the copyright on your book at a profit. Cars, household furniture and stuff are exempt from capital gains. If you buy a scruffy looking car - clean and valet it and sell at a profit - it's tax free. |
|
marzmargs12
|
By law your employer must get you to sign the statutory tax forms for employment.This is a legal requirement. |
|
jako
|
yes ovcourse you have to pay tax all the time even people on social security |
|
malcy
|
Most UK students study full time and dont have enough time to earn enough money to get taxed on. You are also exempt from paying council tax. |
|
henners1979
|
It depends how much you earn. The fact you're a student does not mean you don't have to pay tax (this is a common misconception). However if you expect to earn less than £5,035 during the year to 5 April 2007 you should be able to receive your pay without tax being deducted.
You will need to ask your employer about this and they should provide you with a form to fill in and sign.
You would still pay National Insurance on any weekly earnings in excess of around £90 which will work out as 11% of the excess. |
|
Evil J.Twin
|
If you earn above a certain amount, yes you will get taxed. The non deductable amount will depend on your other circumstances which determine your tax code. |
|
sandywhistleflip
|
YES YOU DO GET TAXED BUT YOU CAN GET A FORM FROM THE INLAND REVENUE EXCLUDING YOU FROM TAX AS YOU ARE STILL IN EDUCATION.
I DO NOT KNOW IF THERE ARE CERTAIN RESTRICTIONS BUT I KNOW THERE IS A FORM YOU CAN GET FROM THEM.
HAVE A CHECK ON THE WEB |
|
Astra
|
This must be a trick question, whoever heard of a British student working?! |
|
Sarah (28/UK)
|
Students need all the money they can get their hands on - and one of the easiest ways students can waste money is by paying too much tax. While students do not get preferential treatment under the tax system, not all their income is taxable. BBC News offers some guidance on the rules.
Do I pay tax on all my income?
No. Everyone has a tax-free personal allowance.
This means during the 2006/07 tax year you can earn up to £5,035 before your
income is taxed.
Any earnings above this amount are then taxed at 10% up to £2,150; 22% between £2,150 to £33,300; and at 40% on earnings over £33,300.
Are student loans taxable?
No. Student loans along with a number of other forms of support are not taxable.
The following are not taxable:
Student loans and grants
Contributions from your parents
Most scholarships
Most research awards
Housing benefit
Most gifts and loans from relatives
Income from Individual Savings Accounts (ISAs)
Prizes won by students for academic excellence.
What is taxable?
The most common forms of taxable income are earnings from full or part-time work, including tips and bonuses, and any income from self-employment.
The numbers which accompany the letters in your code represent the actual amount of allowance you have, in other words tax free income, before you have to pay tax
How to read your tax code
If you receive dividends from shares in a company, Jobseeker's allowance (JSA) or interest from most National Savings Accounts, they are all taxable.
Interest from savings with a bank or building society is taxable, unless your total taxable income in the year is below the £5,035 threshold.
Have I paid too much tax?
You may find that you have paid too much tax - maybe because you weren't aware of the rules.
If your income for the same tax year is likely to remain below £5,035, you can claim back tax during that tax year.
If you think you have paid too much tax contact Revenue and Customs for a repayment claim form.
If you wish to see someone in person, you can search for your nearest Revenue office under the "Contact us" section on the department's website (see link on right).
What happens when I start my first job?
When you start work for the first time, your employer should give you a P46 form to complete.
This will mean you receive your wages under "Pay As You Earn" (PAYE), and you should be taxed correctly.
Your employer will send this to the Inland Revenue after your first payday to check its employer's calculations.
The Revenue might send you form P91 to complete to ensure that you pay the right amount of tax.
What if I've worked before?
If you have worked before or claimed Jobseekers allowance, you should have a P45 from your last job or when you stopped claming.
Hand this to your new employer; otherwise you will end up paying too much tax.
If you do not have a P45, get a P46 off your new employer.
I've paid too much tax. How do I claim it back?If you think you have paid too much tax during any one tax year, you should try to claim a refund.
Contact the Revenue to get a claim form.
You can contact the Revenue's inquiry line on 0845 307 5555.
Alternatively, if you wish to see someone in person, you can search for your nearest Revenue office under the "Contact us" section on its website (see link on right).
What happens if I'm only planning on working in the holidays?
Students who work only during their holidays and do not expect to earn more than £5,035 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, when students are required to complete form P46.
Some students who have completed form P38 (S) may be required to complete a tax return at the end of every tax year to ensure that their total taxable income has not exceeded their personal allowance.
Do I pay National Insurance contributions?
Most students are not required to pay National Insurance contributions, because their earnings are too small.
However, every employed worker whose earnings exceed the primary threshold of £97 per week must pay Class 1 (earnings-related) contributions.
These are deducted from wages/salaries by the employer. The rate of contribution depends on total earnings.
No contributions are payable under the age of 16 or by people over pensionable age.
The Revenue and Customs National Insurance Contributions Office (NICO) keeps the records for everyone's contributions throughout their working lives.
Where can I get further information?
If you need further information, leaflet IR60 on the Revenue and Customs website has more information on income tax and students. |
|
Llessu
|
Depends on how much you earn |
|
Corsa_SXI
|
Yeah you have a tax allowence of about £5k a year and whatever you earn over that you have to pay standard tax on it |
|
lizarddd
|
Only if you earn more than your tax limit, usually around £4000, anything less than that and you wont get taxed |
|
macca
|
Yes you do get taxed.
There is a threshold, like £70 a week, if you earn less than that you don't get taxed, after that, you do have to pay tax. Check with the Inland Revenue. Incompetent b******s won't be able to help you, but it's nice to speak to people. Isn't it. |
|
JayStar
|
You would pay UK tax if your earnings were higher than the annual standard pretax allowances (approx £4000 I think). However, your employer would probably have to deduct tax anyway, and you would have to reclaim it back from HM Revenue. But I believe you can apply for an exemption from prepaying the tax as a student, it you apply to your local tax office and if you think you wont be earning more than the standard pretax allowance. |
|
adamsgi
|
The form you need to ask for is form P38(s). This allows you to earn up to your taxable free pay (i.e. £5035) without having to pay any tax at all. However, as always, there are catches.
1) You must be a full-time student - no part-time courses
2) You cannot work during term time. This arrangement is only for school/college/uni holidays. Perfect for summer holidays and half term etc, but if you need to work to subsidise your studies you will have to pay tax like the rest of us.
3) If you earn your £5035 in the summer holidays and then drop out in November, the rest of the year your earnings will be taxed at 10% for the first £2000 you earn and then 22% for the reaminder (well,, up to 38000, then it's 40%). This can mean that for the rest of the year you are paying tax on everything you earn as you have already used up your tax allowance.
Of course if you go ahead with paying tax and don't use your allowance by April then you can claim the overpaid tax back from HMRC (what was the Inland Revenue).
Hope that helps! |
|
frostyg02uk
|
if your british you should know. from april the tax year starts a new. so from there till next april people in their first working year dont get taxed but do pay national insurance. if you start a new job again..again you start a new and pay no tax. if your paying tax you can apply for a tax rebate get your employer to help out with that. |
|
Roaryyyy
|
yes you do i'm a uk student |
|
sweetclairebabe
 |
everyone pays ni and tax on their wages in UK,but you need to contact you tax office to find out what tax bracket you come under (this tells you how much you would roughly pay each week/month)! |
|
kushan_2001
 |
Yes you do, it doesn't matter on your citizenship, it depends on how much you work. If you are earning less than £5035 a year, you will not be taxed, above that 10%. the there are various levels in that as well. Also if you are holding more than one job, than in your second job you'll be taxed 22% of your earnings. |
|
ges21
|
If you earn over £90 a week - yes |
|
billybirkbeck
|
YES YOU DO ANYWHERE YOU WORK YOU SHOULD PAY TAX UNLESS YOUR BEING NAUGHTY AND GETING PAYED CASH IN HAND |
|
cbland15
|
You will be taxed but remember you have a personal allowance. Below that amount you don't pay tax. There is then rates of 10%, 22% and 40% depending on how much you earn. |
|
Perry
|
Yes, of course. |
|
Little minx
 |
May be the same reason that overseas students have to pay 7,800 (prob more now) in student fees upfront. The reason is because they have not contributed to the economy.
Personally I think that is fair enough but a little out of order that that fee is upfront as it must be such a wrench. |
|
niceone
|
hello im a part time working student in uk and exceeds on my income allowances which is 6400pounds a year... i've earned 10000 pounds a year but still do not have any tax deductions.. first i just ignored it coz im assuming that my employer's knows all about it and then after a couple of months i asked my manager about it and she said its ok coz im a part time student.. what worries me is that maybe i will be penalized and my plans in the future will be affected like if i want to come back here again in uk.. only my NI is deducted.... what should i do??? can anyone help me with this?? my stress level now s very high... |
|
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
