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I have a part-time job. I am in full-time education. What should my tax/national insurance situation be?
Should you fall below the earnings threshold of (I think) £4,000 a year you should not be taxed.
If, like during the summer, you complete numerous more hours than you normally would, expect to be taxed.
No matter though as this should gradually be refunded once they've worked out you're not going to be doing those hours all year. I think this relies on the correct tax code and all that jazz.
My employers just keep them all at work, so I can't see it yet. Bastards.
I'm asking this because I worked £133 worth of hours last week, and only got £98 paid into my account. Seems a lot...
You need to take into account the other hours you've worked this year.
That seems about right. Crudely put: 49*133 = 6517.
I've just checked the threshold on HM Revenues and Customs website (http://customs.hmrc.gov.uk) and in 2004-5 the personal allowance is £4,895.
Quit work now, otherwise they'll own your soul forever!
till the summer probably...
Will I get the money back at the end of the year? Someone told me that.
which is like march or something
If you are on the correct tax code then you may be refunded over the course of several months.
If this doesn't happen, then you retain the right to claw back any tax you've wrongly paid by applying after April.
I get a third taken off? That's almost enough to make me want to quit right now. I have a holiday to pay for, goddammit! :P
you don't pay national insurance on the first £97 a week, after that it is 11%.
as for tax, the personal allowance (untaxed income) is £5,225
after this you pay 10% on the first £2150, and then 22% on any income above that.
there's a higher tax rate too, but i don't think mr magpie is reaching those levels yet.
I shouldn't have been taxed at all for that? Or National Insurance?
Right that's it, I'm off to listen to Fugazi. Fuck the system! Etc.
and get yoru pay slips. are they allowed to keep them from you?
I just haven't bothered yet. I know nothing about the legalities of this...
they have absolutely no right to keep them from you..
i was on basic rate tax throughout uni. i just put up with it because getting the right tax code is grief. i just made sure i had all my pay slips and then at the end of it sent them to the inland revenue with prof of my being a student and eventually got a nice cheque. its actually better like that cos then you get all the owed tax back in one fat lump, thus it felt more of a reward