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This week is Student Tax Aware Week.
Visit www.studenttaxadvice.org.uk for information aimed at helping students understand about tax and national insurance.
If you're one of the three quarters (76%) of students in paid employment, you need to know about tax. HM Revenue and Customs has launched a new Student Tax Advice campaign to help students find out what they need to know, from checking they are paying the right amount, to how to discover if they may be eligible for a tax refund. |
The new website aims to become the first port of call for students with questions about tax www.studenttaxadvice.org.uk. Further information will be available, with a student Tax Refund Calculator launching on Facebook, tax information films placed on You Tube, and new leaflets available on campus from The Hub in your Students' Union.
According to the HMRC Student Tax Advice campaign, students need to know about the following:
- Their Personal Allowance
- Their tax code
- What to do with forms such as the P45, P60 and P38(S)
- What to do if they have more than one job
- What National Insurance is
- The importance of knowing and using their National Insurance Number (NINO)
- Ensuring HMRC has their current address
The Student Tax Advice campaign is being supported by the National Union of Students (NUS), universities and student finance organisations.
Commenting on the campaign, Jane Frost, Director of HMRC Individuals Customer Unit said:
"With three quarters of students working it's vital they understand they have the same responsibilities as everyone else for their tax and national insurance."
"This campaign will make dealing with tax easier for students, from National Insurance to tax refunds. Getting into good financial habits now will serve them well in the future."
"We're advising all students to visit www.studenttaxadvice.org.uk to find out the basics about tax, and if you have a specific query you can check this online and find out what to do next."
Ama Uzowuru, Vice President Welfare at the NUS, says:
"We're delighted to be working with HMRC to help students find the right advice whenever and wherever they need it. We encourage students to log on to studenttaxadvice.org.uk and find out about tax."
Findings of the Student Tax Advice research include:
- A total of 76% of students are in paid employment: 58% of students work part-time, while 39% do 'odd jobs' now and again
- More male (66%) than female students work part-time (55%)
- The retail sector is the biggest employer for UK students, at 32%; followed by office work (26%), and bar work, (18%).
- Students are aware of the importance of knowing their National Insurance Number, with 93% claiming to know their number, or to have it safely to hand.
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If you have any concerns or questions about Tax or National Insurance, feel free to speak to a Money Doctor in your Students' Union.
The Money Doctor is a member of the Student Advice team and is based in The Hub.
Call in during our drop-in sessions which take place Monday, Tuesday, Thursday and Fridays from 10am until 1pm and Wednesdays from 2pm until 5pm. You do not need an appointment during these times. |
Want to find out more? Download the Top Tax and NI Tips or Whatever your job, don't be confused by tax.
Alternatively, if you want more information about HMRC's student tax campaign, you can email Fishburn Hedges on hmrc@fishburn-hedges.co.uk or telephone 020 7839 4321.
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