Quote:
Originally Posted by lancsdave
Like I said earlier, same scheme as anyone else who works legitamatley  |
It's not quite the same, because a student who has a job for the holidays should be allocated a different tax code to the rest of us, which enables the summer job to be paid without tax deductions (reducing the need for a rebate of overpaid tax at the end of the tax year). However, this will only happen if the correct forms are completed at the recruitment stage. A P38s is a declaration for students working during the summer holiday only and will generate a nil tax code. A P45 is the declaration form which will generate a basic rate tax code and each week's pay will be taxed based on an equivalent annual salary.
