my friend told me you can get out of tax at 17?
She signed an agreement with an accountant that at 17 if your in full time education (which we are) you don't have to pay tax? She said it was on 33 hrs per week, but what if you work more than that, can you still get 33 hrs work non/un-taxed? As I want to work in the summer, but I will work over 33 hours a week.
United Kingdom - 7 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Your allowed to earn so much before you have to pay tax! I think its about £3500 then your taxed!
Answer 2 :
I didn't think anyone in full time education got taxed. I didn't when I worked over the summer hols when I was at uni... I was doing about 35 hours a week on average
Answer 3 :
If you are in full time education then you do not pay tax on earnings, so long as you earn under a certain amount. You can just ask your employer for a form to fill out. If you've been taxed already then when you fill out and hand in the form you should get that tax back at the end of the tax year in April.
Answer 4 :
if you are in further education no matter what your age and just work evenings and holidays then yes your friend is correct you do not have to pay tax as long as you complete a student form and do not earn over the tax limit for the current tax year, this year is £5225.
Answer 5 :
I don't quite understand how the accountant has agreed this. You will pay tax after you have earned over £5225.00 (the basic threshold), unless you provide your employer with the appropriate form:- FORM P38(s) You do not have to deduct tax from the pay of a student who works for you solely during a holiday if • this form is filled in on the back, and • the student's pay in your employment does not exceed £5,225. Where the student's pay in your employment exceeds £5,225 you must • deduct tax using code 'OT week 1/month 1' in accordance with paragraphs 110 and 111 of the booklet CWG2 Employer Further Guide to PAYE and NICs. If 5 April falls during the period of employment, the student must fill in two of these forms, one for the tax year up to 5 April, and one for the new tax year from 6 April. If you think you are due a refund, you will need to apply using Form P50 Have a look at this link and see where your circumstances fit. http://www.hmrc.gov.uk/allforms.shtml
Answer 6 :
the other answers are a bit muddled. First of all everyone pays tax, no matter what their age, if their income goes above a certain amount. For everyone under 65, that is £5225 in the current year. This £5225 is divided by 52 to give you £100 tax free each week. Anything over that is taxed at 10% and then 22%. The form P38(s) which someone else mentions can be signed only if you are only working during the school/college holidays. If you work during term time, you cannot sign this form. The idea behind this form is that if you sign to say your income will be under £5225 for the year, the employer does not deduct tax and you dont have to go to the bother of reclaiming it. Its not the number of hours you work which is key, but the amount you earn - as I have said above anything over £5225 in a year is taxable.
Answer 7 :
I do not think it has anything to do with your age. It is based on how much you earn in yearly wages. There is a minimum amount you can earn before you are required to pay taxes. I am sure if you call the IRS, they can help you. Their number is 1-800-829-1040. Good luck!
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