student + job = tax????

mboro

Hello MSE peeps.

I am a student at Teesside Uni.....I am now on my summer hols.

I am currently working for a recruitment agency.

I am on minium wage working less than 30 hours a week.
It would seem I am getting taxed...... my tax code is W1543L.

As a mature student should I be getting taxed? and if so how can I go about reclaiming it back?

GlasweJen

Yes, you get taxed at the same rate as everyone else in the country unfortunately.

Noz

Yep, you'll be taxed if you're a student or not.

melancholly

as a student you will be taxed on any amount that you earn over the personal tax free allowance (for 2008/9 it is £5435). if you are only working in the holidays and therefore will not earn over this amount you have to fill out a form to ensure that you don't get taxed (this will not happen automatically and it is up to you to submit this form). the form is a P38(S). if you are working all year round, even part time, there are not special conditions where students do not get taxed. if you go over the threshold for each week (it's broken down as to an amount per week you can earn without paying tax), then you will pay tax. to claim any tax back you can either wait until the end of the tax year, or if you are certain you will not earn over the threshold contact your local tax office and you should be able to claim it back now.

these websites may be worth reading:
http://www.hmrc.gov.uk/students/tma-working-while-being-a-student.shtml
http://stccalculator.inlandrevenue.gov.uk/UserDetails.aspx

mboro

Thanks for clearing that up for me:o

I luv this forum:T

f1re_cr4cker

dont worry though if you dont go over the thresehold u automatically get it back although it generally doesnt happen till a year later if u just wait.

CLAPTON

melancholly is quite correct.

without knowing your full circumstances...
however if you do in fact work more than the holidays or earn more than 5435 (will be 6035 soon) then your tax code in incorrect anyway and needs changing .. it should be 543L without the W1 bit.... then you will pay less tax.

[Deleted User]

I get taxed for every job I have over the summer but then I claim it back at the end of the financial year, which is always a nice bonus as I always go away around easter.

TeaBoy_2

what melancholly says. you should get a P38 and not pay any tax!

someone

mboro wrote: »

W1543L.

are you sure this is your tax code?

You normally take the number in it and multiply by 10 and it should give you how much you can earn a year before tax. So that tax code says that you can earn £15,430 a year before tax is taken off which sounds a bit odd as it should be just over £6,000.

I would phone up your tax office, they are really helpful, will post any forms you need out. Its your employers tax office you phone not your local one btw.

Lokolo

His tax code is: W1 (space) 543L

Mine is the same but the W1 is at end rather than beginning i.e. 543L W1.