Do students pay tax on interest/income from savings?

shavedchimp

If you're a full time student - do you pay tax on interest/income earnt from money in a savings account?

For normal savers it is 20% is it not?

Lokolo

It doesn't matter if you are a student or not.

Everyone gets a tax allowance of £6,475. If you earn over this you will pay 20% tax on savings interest (apart from an ISA), same as income tax. If you end up a 40% tax payer you will pay 40% on savings interest.

Anything below this is 0% (even if you are not a student).

[Deleted User]

As what Lokolo said - but if you earn below the threshold you need to fill in a form for each of your savings accounts and hand them into the bank that holds the account.

They usually keep/or can print you one off in the bank - or you can download the forms from the HMRC webpage:

http://www.hmrc.gov.uk/forms/r85.pdf

Supercally07

A lot of these places do the discounts anyway via partner websites and organisations and they don't charge you the £13 for the card.

For the cinema just get a cheapo orange PAYG Sim.

For all the online discounts check out sites like RecommendedBy.co.uk, Student Beans, StudentPunch and others that give student discounts. RecommendedBy also lets you share the discounts on Facebook and Twitter and get paid when your mates buy.

The only company missing from all these is ASOS so if your a fan of them then make use of the NUS Extra card.

agrinnall

I was going to give you the benefit of the doubt and say you'd accidentaly posted in the wrong thread, but as you've resurrected one that is nearly 2 years old it looks deliberate, so I'm reporting you as a spammer.