Students doing summer jobs used to be able to sign a form P38(S) and have their earnings paid without deduction of tax. Not any more. In April, PAYE started operating in real time. Standard PAYE now applies to all students. More will need to claim back tax at the end of the year.
There’s a [...]
Budget week is a good time to explore some of the basics about tax, particularly personal tax allowance. Take time, because it is complicated, and some young people get confused.
Here’s how one young man got hold of the wrong end of the personal allowance stick. He’d just got a job and told a youth [...]
Do young people understand their payslips? It would be amazing if they did. A lot of adults, even those who’ve been working for years, confess there are elements they’ve never bothered to find out about. They just glance at the bottom of the note – how much they get at the end of month. A [...]