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8TH AUG 2008
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 As a student, are you due income tax back? It is a commonly held belief that if you are in full time education you do not have to pay tax.
This is sadly wrong and it makes no difference if you are 3 or 33 you still have to pay income tax if you earn over your tax free allowance (currently £5,225)
There is however a happy ending to this story. If you are a student and your are working, it is quiet likely that you may be due a tax refund. The reason behind this is the fact that most student who do work will not earn below their personal allowance. Many employers will tax you regardless of how much you have earned, either because they are lazy or because they do not have the correct paper work. If you have paid too much tax, you can forget about the Inland Revenue contacting you to tell you.
Students are one of the poorest people in society as they earn very little, if anything at all. Therefore don't let the government take the small amount of money that you do earn. Check to see if you are due any tax back, you have nothing to loose and could be in for a big windfall.
The year you go into the real world to find a job you will have only worked for part of a tax year, another factor which will help secure a tax refund. Remember you can claim any tax back up to six years ago, so think about any summer jobs or holiday worked you might have had.
Tax Fix operates the most affordable Tax Refund Service. Why not check to see if you are due Tax Back today? They work on a 'No tax back, No Fee' basis.
Related Links
Tax Fix Website
Student News
University News
Provided by The Student Zone (United Kingdom) |
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