Most people think that students do not have to pay tax. This is unfortunately incorrect. It makes no difference whether you are 3 or 33, you still have to pay the Inland Revenue a proportion of your earnings if you earn more than your tax free allowance of £6,425
However, the majority of students do hold one major advantage over the rest of the population. If you are a student and you are working, it is very likely that you may be due a tax rebate. The reason for this is because most students who do work will earn less than their personal allowance. A student would have to work for nearly a quarter of the year on a full time basis before they would use up all of their tax free allowance. Many employers will not take into the account that you are only going to be working for part of the tax year and if you have paid too much tax, you cannot rely on the Inland Revenue contacting you to tell you. The onus is on you to make a claim.
Students are one of the poorest demographics, as they have very little disposable income. If you are a student, don’t let the government take away the small amount of money that you do earn. Why not check to see if you are able to claim a tax rebate. With Tax Fix you have nothing to lose and could be in for a big windfall!
The year you decide to go out into the real world to find a job you will have only worked for part of a tax year, which is another factor which will help secure you a tax rebate. Remember, you can claim a tax rebate for the past 6 years, so think about any summer jobs or holiday work you might have had and make those claims.