How much can I earn before I get TAXed

mreville

Hi,
Are students able to earn more than £6,475 before they get TAXed?? and if not could i put anything i earn over this amount into an ISA thus avoiding TAX altogether?? Therefore allowing me to earn £11,575 TAX free!!
Also if you do get TAXed on over a certain amount will it just be this earned money that i get TAXed on or will i have to start paying council TAX...etc???
Regards M-C

The_One_Who

Why is the word 'tax' in capitals?

If you earn over the amount, then you will get taxed whether or not you are a student. And no, you cannot put the extra into an ISA since the money and tax is all done through your employer, unless you are self-employed. I believe there is an allowance for students who only work during the summer months, but I'll leave it to someone else to explain that since I don't know very much about it.

And, no, you won't need to be council tax as a student.

MrsManda

mreville wrote: »

Hi,
Are students able to earn more than £6,475 before they get TAXed??

No.

mreville wrote: »

and if not could i put anything i earn over this amount into an ISA thus avoiding TAX altogether?? Therefore allowing me to earn £11,575 TAX free!!

No. Anything you earn over £6475 should get taxed before it gets to you or else if you don't pay tax through PAYE you need to fill in a tax assessment form at the end of the financial year. Putting your money in an ISA means that your interest on those savings won't be taxed.

mreville wrote: »

Also if you do get TAXed on over a certain amount will it just be this earned money that i get TAXed on or will i have to start paying council TAX...etc???
Regards M-C

Income tax is separate from council tax. Students don't pay council tax. Though other taxes such as VAT and road tax are still payable regardless of your income or student status

glider3560

The_One_Who wrote: »

I believe there is an allowance for students who only work during the summer months, but I'll leave it to someone else to explain that since I don't know very much about it.

The form only allows students to use their entire £6475 TAX allowance for the summer, as oppose to being spread throughout the year.

Students don't pay council TAX, regardless of how much they earn.

OP, how much are you expecting to earn then we can look at how much TAX you are likely to be paying.

melancholly

http://studenttaxadvice.direct.gov.uk/index.html