Tax Query

superstar_2

I am an University student. I have had occasional jobs but do not have any permanent jobs. I do not have NI number, they usually give me a temporary number everytime i do a job.

I got a letter today from the HM & Customs saying i may have to pay tax this year and if i have to then i have to notify my bank. Otherwise, they will send me a tax bill after next April for the tax i should have paid on the interest.

From last April till now, i would have probably earned ~1000 pounds which is less than 5000+ that is required before i get taxed. In that case, I am sure i should not be taxed. So, am i right saying that this is a standard letter and i can just ignore it?

Thanks in adv!

superstar_2

anyone? BUMP

smithson55

Never ignore a letter from HMR&C, superstar, if it opens a door (even one that should be shut) to paying tax. I suggest a letter back to them (always keep copies) setting out your income in the tax year, including any bank interest, mentioning whether tax was deducted or it was paid gross.

[Deleted User]

Start off by calling your local tax office for advice and let them know of your income. Always keep P45's and P60's!

superstar_2

Just to clarify this so that i can get more advice. All i received was a leaflet but it had my name and address on it.

The title was Do you need to pay tax on your interest? It also said - You may need to pay tax this year because you now have a pension or a job or social security benefits. I don't have ANY of these. Had 2 temporary jobs but they were one off, got £1000 and that's it. I'm a fulltime student and dont have any permanent jobs.

It then continued saying that - If i need to pay tax, then i should notify my bank. Otherwise, they will send me a tax bill after next April for the tax i should have paid on the interest.

That was all on it. I don't think i need to contact them and i think it is just one of the routine ones, probably after my employer sent them something. Do you think i need to contact them? I have earned £1000 but have not paid any tax. I also dont pay tax for my bank interests.

I would do with some quick advice please...thanks thanks!

superstar_2

BUMP bump bump

superstar_2

Just bringing it up again if any kind soul can help me! Thanks ...

dmg24

superstar,

Could I ask why you do not have an NI number? x

Mikeyorks

They're advised of every account that pays interest. And they keep a particular eye on those where an R85 is filed. The note has undoubtedly been provoked by that + something from one of the employers you mention - so they know there are also some earnings. So .... it's just a warning shot that you may be headed into taxable territory!

If they don't ask you to make contact .. then don't do so. If your total income for the year to 5.4.08 is £5225 or less (including gross interest) then you're OK. But keep all P45 copies / payslips etc .... just in case.

As dmg24 says .... why no NI number? That needs sorting if it's 'don't have' .. as opposed to 'don't know'?

superstar_2

Thanks Mike and Dmg!

Firstly, I dont have an NI number yet as I'm not an UK national. I'm an International student here in the UK.

Secondly, all they have said is what i have described above:

This is what they have said: The title was Do you need to pay tax on your interest? It also said - You may need to pay tax this year because you now have a pension or a job or social security benefits. I don't have ANY of these. Had 2 temporary jobs but they were one off, got £1000 and that's it. I'm a fulltime student and dont have any permanent jobs.

It then continued saying that - If i need to pay tax, then i should notify my bank. Otherwise, they will send me a tax bill after next April for the tax i should have paid on the interest. That was all on it.

In the end, it said - If you need help about it or tax in general terms - i. contact local HM ii. talk to local HM iii. visit https://www.hmrc.gov.uk

That's all have been said. I have earned less than that figure, so i dont need to inform my bank cos im dont have to be taxed. Shall i leave it alone?