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Tax breaks for students on placement
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HMRC do not always receive copies of P60`s (especially in cases where yours has been "lost in the post" -it could never have been sent by your employer) They will be able to apply for the details though as long as you give your payroll/works number...it will just take a bit of time. As has been said before - everyone has a tax free amount they can earn - the only reason that it is common for students not to pay tax is that they earn less than their tax free allowance. Yours seems ok. Without your full P60 details we cannot say if you are due a refund for the previous year ..however be careful as you have said that you had 2 jobs and it may be that you have underpaid tax. National Insurance contributions can be refunded in certain circumstances(not applicable to you) but they are refundable when they have been paid in error or payments have been made in excess of the annual limitsI have had brain surgery - sorry if I am a little confused sometimes0
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For the placement students, are they able to get the tax back on the fee's they pay that year?
I think they still have to pay half their usual fee's ( so approx. £600) would they be able to put this in as tax free money and there effecitively save 20% of £600 = £120??)
If so how would they go about claiming this money back?Snootchie Bootchies!0
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