Placement Students?

1985bari

Hello is anyone here doing a placement if so how much tax do we have to pay? and if we do can we claim it back? :money: :money: :money:

where does ppl do there placements?

ME here doing it LogicaCMG

:beer: :money: :beer: :money:

03022242

students pay the same rate of tax as anyone else,

if you havnt worked in 06/07 tax year then your first £5035 is untaxed, but because the academic year is spread over 2 tax years the same situation appies again in yr 07/08, so in effect over 10k is taxfree if your working until september next yr

SimonDance

I've justed finished my years placement, and although you will probably be paying university fees (often only half for the year) you will be taxed, and you wont be able to claim it back.

Best to make up the decifit in stationary from the office... I particularly like the mousepads, notepads and biros

DrFluffy

Depends on how your 'employer' is paying you. If you are not officially salaried and get a grant for your time on placement, you do not pay tax. If you are paid through the regualr payroll you do...

redsclubbedup

i worked as a placement tudent, was taxed througout the year, but then got a big fat rebate in both aprils (as teh placement stretches over 2 tax years)

That said with the current issues at my tax office I am still waiting for last years rebate in full as they miscalculated it !!!

retepetsir

Yes I'm a placement student, and yes I get taxed!

Old_el_Paso_2

If your company offers it, try for a sponsorship. I did my placement at GE and received £1000 sponsorship for my final year. There is this site that I come across which seems to be completed focussed on helping out placement students.

https://www.placementyear.co.uk