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tax question
Former Member
Posts: 1,876,323 The Mix Honorary Guru
I'm going to be doing a paid internship from October-December this year. This will be my first job of the tax year and the position is temporary.
I've used an online tax calculator to work out that I will be earning £1,104 before tax, but only getting £902 a month after being taxed.
My question is, is there any way to avoid paying tax since I know what I will actually be earning (around £3300) is under the threshold for personal allowance? I may not be employed again straight away in January and even if I am, chances are I will only earn just over the threshold between now and the end of the tax year. I am just finishing uni now so I will be working full time and won't be classed as in full time education or anything.
I know it is unlikely, I just really need the money as I have a big overdraft to pay off as well as other debts, and will be commuting into London which will take a massive slice out of my wages. If it isn't possible for me to avoid paying tax, when is the soonest I can claim it back - will I be able to claim it back straight after the internship finishes, or will I have to wait until the end of the tax year?
Thanks to anyone who can help!
I've used an online tax calculator to work out that I will be earning £1,104 before tax, but only getting £902 a month after being taxed.
My question is, is there any way to avoid paying tax since I know what I will actually be earning (around £3300) is under the threshold for personal allowance? I may not be employed again straight away in January and even if I am, chances are I will only earn just over the threshold between now and the end of the tax year. I am just finishing uni now so I will be working full time and won't be classed as in full time education or anything.
I know it is unlikely, I just really need the money as I have a big overdraft to pay off as well as other debts, and will be commuting into London which will take a massive slice out of my wages. If it isn't possible for me to avoid paying tax, when is the soonest I can claim it back - will I be able to claim it back straight after the internship finishes, or will I have to wait until the end of the tax year?
Thanks to anyone who can help!
0
Comments
Did you work last year? If not and you dont have a P45 for last year, fill in a P46 and tick the box that states: This is my main job and I havent worked since 6th april this year (its along those lines, the italitcs is the main bit) then you should get a culmative tax code and shoudnt get taxed too much.
You will have to pay NIC on your earnings.
Thanks I will do this
It is only 'cos I'm not gonna be on great money though, but they are rob dogs, sometimes it seems you're better off earning less because even when you're earning a few grand extra a year, you don't get to see any of it!