Student Tax?

loopyloo1986

Im 18 now, and since I began college 2 years ago I have had a job earning me a NET income of £240 a month now, less when I was under 18. (£183)
Anyhow, all this time I have had to pay no tax, and I always believed it was due to me being a student and that i had to fill in a form to stop me from paying tax.

Now however, from reading articles it is from earning less that the personal allowance or summat, sorry, its confusing.

My question really is this. I have just got a 2nd job, which would give me a NET income of £582 a month plus £240 for 3 months until I finish that job.

I was wondering as I'll be going back into education at Uni in September - if I have to pay Tax or not?

Thanks for any help, I expect its a simple answer. Any ideas on how much tax i'd pay if applicable would be helpful too. Thanks in advance!

ctm_2

You are correct in saying that you don't pay tax because your earnings are less than your Personal Allowance, which for this tax year is £4895. Being a student has no bearing on your tax status.

need a bit more info before can say if you will pay tax though, as I'm confused as to which (if any) of the 2 jobs will continue in september, or if both jobs finish in september. Let me know that, and i'll work it out for you.

loopyloo1986

Thanks for that.

The months of July, August and September will earn Net of £822. Then from October I will have the one wage of £582.

From April this year I have earned £240 each month.

Hope this helps, and thanks again. :j

macchicken

Ru sure about the paying tax as a student thing!
i was never taxed the whole time i was at college, but my partner was but then he got it all back in a rebate!
Pop into your local tax ofice and ask, i always found them really helpful!

jimclark1967

loopyloo1986 wrote:

Thanks for that.

The months of July, August and September will earn Net of £822. Then from October I will have the one wage of £582.

From April this year I have earned £240 each month.

Hope this helps, and thanks again. :j

On those figures you'll be earning more than the personal allowance this year and so will have to pay tax (most of which will be in the 10% band for the £2000ish above the personal allowance)

You need to make sure your tax codes are correct - once you start the new job you should make sure they know its your main job so that the personal allowance is applied to money earnt from that job (and not automatically taxed at 22%)

next April once you've got the P60 from your new job you can ask HMRC to review the year (2005/6) as you'll probably either owe (or be owed) a small amount extra due to the overlap between the two jobs - as its late I can't think which way round it'll be!

JC

jimclark1967

macchicken wrote:

Ru sure about the paying tax as a student thing!
i was never taxed the whole time i was at college, but my partner was but then he got it all back in a rebate!
Pop into your local tax ofice and ask, i always found them really helpful!

As ctm said it's got nothing to do with being a student. When you started working you would have filled in a P38 form to say that you don't expect your earnings to exceed your personal allowance for the tax year. Your partner probably wasn't given this form and hence paid tax at the time - receiving it back later as a rebate.

JC