Taxes?! HELPPP! :D

    • Taxes?! HELPPP! :D

      Okay so I'm a bit confused with the whole "taxing" thing...
      I had a part time job at Nike at 16 and made approx £230 a month and my tax code was 603L1 and I didn't have ANYTHING deducted from my wage.

      Now I'm 17 and I'm in an Apprenticeship, which classes as a full time job. I'll be making £95 a week, but I get paid monthly so it comes to about £380 I think... so will I get taxed on that?
      (I haven't been paid yet so I'm not sure what to expect)

      Also, will I get NI INS taxed - or what other taxes will I now have to pay?

      Any help is appreciated, thanks!

    • Re: Taxes?! HELPPP! :D

      doubt that fits you into a tax bracket. i think you get about 6.5k a year tax free, more if your over 65, then everything over that is basic rate which will take you upto about 37k a year, that is at 20%, and everything you earn over that is taxed 40%



      it works someting like this:

      if you earn 40k a year e.g


      0-6k of the income is tax free, your personal allowance
      6-37k they take 20% of that so 20% of 31k
      then 37-40k they have 40% of, so 40% of 3k




      oh and they undoubtedly will tax you, they always do, even if theyre not allowed to, in which case you need to tell them to stop and claim back what youve paid, usualy you dont get it back till the end of the tax year.....

      The post was edited 1 time, last by Sharkbait ().

    • Re: Taxes?! HELPPP! :D

      I don't think it has to be that complicated.

      Yes you will have to pay National Insurance (NI) if you earn something like over £300 a month, although it will be very little, like £7 - £10.

      However apprenticeship I think is classed as education and while you are earning only £95 a week, then you shouldn't be paying any tax.