student nurse getting emergency taxed
2007-01-20 02:36:57 · 10 answers · asked by handsonhips101 4 in Business & Finance ➔ Taxes ➔ United Kingdom
i get a 498 quid bursery a month, i work 2 jobs part time, the first job i only work 12hrs a month on and i pay no tax on it, the second i work 40hrs a month, i get basic rate tax of 22% which is crippling me, is this right? i thought us students dont pay tax, lol.
2007-01-20 02:39:00 · update #1
Check to see what the annual basic income amount is when income taxes start to be deducted.For example in Canada where I live you are not taxed on the first $9,000 you make after that the amount you have deducted in income tax increases to a maximum of 55 % . You might not have to pay any income tax if your annual income is under that amount , but if it is over than you would have to pay. When you file your tax return if you have paid too much you will get it back from the government anyway. Death and tax are the only sure things in life, good luck!
If you make over 4,800 quid in the year you must pay income tax, in the U.K.
2007-01-20 02:45:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I've been away from the UK for a while (was a tax adviser there) but my first thought is whether or not your bursary is taxable. If it is, your tax deduction is probably close enough.
If it is not taxable, you need a split code. Take the job with the most regular earnings and have your local tax office set enough of your tax code against that, the idea being that you pay no tax. Whatever is left of your code should then be applied to the other job, which will mitigate your tax bill. You should get a form telling you about the split code. From memory it is a P9(T) but, as I mentioned I am a bit out of date.
2007-01-20 06:27:44 · answer #2 · answered by skip 6 · 0⤊ 0⤋
From the little information that we have been given, you earnings would mean that you would be subject to tax.
Unfortunately, 22% is the normal amount of tax which most people would be paying in the UK.
The Inland Revenue website gives you more information about this including pay calculators. Try visiting the below website, but if you are still not clear then telephone them on 08457 143 143 and they will work out any calculations for you.
http://www.hmrc.gov.uk
2007-01-20 23:46:16 · answer #3 · answered by Mrs W 2 · 0⤊ 0⤋
If you're a student, you still pay tax on your income unless all of the following apply:
you're a full time student in the UK, only working in the holidays
you're returning to full time education after the holiday
your total income for the year is below the personal allowance
Ask your employer for form P38S and tax won't be deducted from your earnings. National Insurance will still be deducted if you earn more than £97 a week.
2007-01-20 02:48:42 · answer #4 · answered by ***Missy*** 4 · 1⤊ 0⤋
As others say check with the office of H M Revenue and Customs. Anyone who earns more than about £4800 per tax year - which runs from 6th April - will [should] pay tax; students included. It is made more difficult with more than one job. If you think you have paid too much at the end of the year you complete a tax return and if so they send a refund.
2007-01-20 02:50:10 · answer #5 · answered by Davy B 6 · 0⤊ 0⤋
From what i understand of being self employed and dealing with tax, the first £5100 you earn is yours to keep. This is for each business you run or job you have so if you arent earning over £5100 in one job you may not have to pay any tax. Of the next £1960 (roughly) you earn you pay 10%, its only when you go over earning around £7000 a year you pay 22% and if your income is over £30,000 its 40% (!). I'm not an expert and have mine done for me via the website tax calculator but thats roughly how it works so to sum up if you earn what you say you do then you should only be paying around £90 tax a year
2007-01-20 21:48:53 · answer #6 · answered by The Shadow 3 · 0⤊ 1⤋
You should contact your tax office as soon as possible, they are there to help.
Normally, an employee would have their non taxable income set against earnings on the first job and all income on the second job would be taxable.
There is scope for an end of year adjustment, if you have paid too much tax overall.
There are special rules for students.
There is some guidance on the hmrc website.
http://www.hmrc.gov.uk/
2007-01-20 02:53:58 · answer #7 · answered by David P 7 · 0⤊ 0⤋
Contact your Tax office and ask what your tax code should be. I have never known anyone stay on emergency tax long term. You should at least be getting basic allowances. Give them a call - you may get a rebate xx
2007-01-20 02:41:09 · answer #8 · answered by starlet108 7 · 0⤊ 0⤋
Get in touch with inland revenue they will tell you exactly what is right. I was paying too much tax and they sorted it within a couple of weeks.
2007-01-20 02:41:14 · answer #9 · answered by paul m 4 · 0⤊ 0⤋
no one should have to tax, but it's that lousy stinking greedy government!.
2007-01-20 02:43:56 · answer #10 · answered by Gilly 4 · 0⤊ 1⤋