tax on wagers

You didnt say how old you are and what education you are in.

AFAIK if you are a full time student, you do NOT pay ANY tax on your earnings.

You need to complete a form at your local bank/building society which makes this declartion.

18y/o

and in college

Hmmm does that £63 include your National Insurance contributions?

Because it works out at 22.5% of your earnings which is about right if you were above the threshold.

When you pay tax, it is usually calculated on the basis that you work 12 months of the year. So each month you get £407 tax free, pay tax at basic rate on the element above that until you reach the higher tax bracket, then pay 40% on the monthly element which falls into that bracket.

Speak to your employer - sounds like they have made a **** up as £280 should be under the tax free limit. If they haven't contact the IR. You may have to wait til next month and the end of this tax year before you can claim it back though.

Contact details can be found on: www.hmrc.gov.uk

Originally Posted by BIKER-DENE

18y/o

and in college

I dont beleive you should by paying any tax at all then buddy.

I know i was earning 600 a month when i was 18 at college, i didnt pay tax on it - i had to complete a form to declare as such.

Originally Posted by getyerkneedown

I dont beleive you should by paying any tax at all then buddy.

I know i was earning 600 a month when i was 18 at college, i didnt pay tax on it - i had to complete a form to declare as such.

Jeez, when I grow up I want to be a full time student!

yer till lots of fun i tell theee :d

Originally Posted by Filipe M.

Jeez, when I grow up I want to be a full time student!

I did Customer Retention for a major card security company in York. They paid by the hour, i did every hour god sent, plus overtime when it was up for grabs. Only problem was, cos i was a student with all that cash it was like catch 22. I couldn;t party all the time as i had work to worry about. D'oh!

Was a good time in my life though... Ahh bring back the good ol' days.

Originally Posted by Filipe M.

Jeez, when I grow up I want to be a full time student!

just had a quick look. it's cheaper to pay for a years worth of full time education than it is to pay a years worth of taxes. so, providing there is no age limit. couldn't you just enrol at college, pay the fees and go to work instead. saving yourself a nice little bundle? handy if you work night shift

Hehehe SV650.org tax scammers! We need a new forum to discuss this...

Originally Posted by getyerkneedown

I dont beleive you should by paying any tax at all then buddy.

I know i was earning 600 a month when i was 18 at college, i didnt pay tax on it - i had to complete a form to declare as such.

How many hours did you work ? did you give up sleeping for three years ?