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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
If i am a student working in the UK. Do i get taxed on my salary? |
If i am a student working in the UK. Do i get taxed on my salary? You would get taxed in UK but not in your home country. Are you American? You will be taxed in the UK, and also in the USA if (and only if) you make over a certain amount of money in the UK. But it's a large sum. I doubt you will make it on a student salary. You still need to file taxes at the end of the year in the USA. you don't say, but if the assumption is correct that you are a US citizen, then you might not have to. Taxes are automatically deducted from your paycheck in the UK, so you should definitely check with your employer. Yes you do get taxed. There is a threshold, like 拢70 a week, if you earn less than that you don't get taxed, after that, you do have to pay tax. Check with the Inland Revenue. Incompetent b******s won't be able to help you, but it's nice to speak to people. Isn't it. if your british you should know. from april the tax year starts a new. so from there till next april people in their first working year dont get taxed but do pay national insurance. if you start a new job again..again you start a new and pay no tax. if your paying tax you can apply for a tax rebate get your employer to help out with that. It depends how much you earn. The fact you're a student does not mean you don't have to pay tax (this is a common misconception). However if you expect to earn less than 拢5,035 during the year to 5 April 2007 you should be able to receive your pay without tax being deducted. You will need to ask your employer about this and they should provide you with a form to fill in and sign. You would still pay National Insurance on any weekly earnings in excess of around 拢90 which will work out as 11% of the excess. The form you need to ask for is form P38(s). This allows you to earn up to your taxable free pay (i.e. 拢5035) without having to pay any tax at all. However, as always, there are catches. 1) You must be a full-time student - no part-time courses 2) You cannot work during term time. This arrangement is only for school/college/uni holidays. Perfect for summer holidays and half term etc, but if you need to work to subsidise your studies you will have to pay tax like the rest of us. 3) If you earn your 拢5035 in the summer holidays and then drop out in November, the rest of the year your earnings will be taxed at 10% for the first 拢2000 you earn and then 22% for the reaminder (well,, up to 38000, then it's 40%). This can mean that for the rest of the year you are paying tax on everything you earn as you have already used up your tax allowance. Of course if you go ahead with paying tax and don't use your allowance by April then you can claim the overpaid tax back from HMRC (what was the Inland Revenue). Hope that helps! |
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