uni student doing a years' "placement work" ..tax & N.I. query

pennymakespounds

son at university .... looking to spend from september ... his 3rd year of a 4 year course ... doing a "placement" job.... pay around £15000 a year i believe.

apparantely someone is saying that students on placements don't pay tax or national insurance .

Is this so ???

thanks

louby_lou

Im on a placement so if your son needs any advice please feel free to pm me.

moneyandmountains

Also, be aware that he will have to declare that he is earning to his bank, so that tax will be deducted from his interest.

The main money saving thing that applies for student placements, is that you still class as a student for council tax purposes.

pennymakespounds

thanks guys ... you all seem to be confirming ,..... as i originally thought... that a placement is just a normal straight forward job .. and earnings pay tax and ni in a completely normal way.

the knowledge amongst us in this site really is of tremendous "value" .. being able to come on and query anything and get benefit of other peoples knowledge is priceless

thanks

Chadsman

Does anyone know what the rules are on how much NI you have to pay to get a full years contributions towards your 'stamp'?
:beer:

greyster

15k is a damn good placement salary ... damn. Lucky him!

Which high tech company is it? :P

I worked for the MOD 3 years ago on placement and I got a pathetic 9k. Experience I got was well worth it though.

pennymakespounds

it's at an estate agents.

greyster

i say! Good luck to him.