Student Tax Allowance

Students that work ONLY during holiday periods can, as long as their earnings remain below their Personal Tax Allowance for the tax year, earn without paying PAYE. The standard allowance is currently £6475 for the 2010/2011 tax year. However people do have various allowances. If your allowance is different, you will be notified by HM Revenue & Customs.

This tax exemption can only be implemented upon the completion of a P38(s) form

Click here to download the form

If a student works at any time other than their normal holiday period, i.e. term time, during the tax year which runs from April 6th until April 5th, they are then subject to the standard PAYE procedures.

This means that if a P38(s) is completed, for example, for the Summer Holiday Period, but later in the year or early the next year any work is done during term time, backdated tax will become due and subsequently applied. If there is any possibility of working during term time a valid P45 must be presented to your employer. If you are not in possession of a P45, a P46 must be completed. We will then present this to the Tax Office who will then notify your employer of your coding.

Click here to download the form

It is also worth bearing in mind that most students will not earn their full allowance in the tax year, as they will probably be far too busy studying! As a consequence they will probably, in the vast majority of cases not pay any tax, or receive a rebate if any has been deducted.

You can find the Term Time and Holiday dates for The University of Nottingham and Nottingham Trent University by clicking on the links below

http://www.ntu.ac.uk/undergraduate/courses/term_dates/index.html

http://www.nottingham.ac.uk/about/datesandcampusinformation/keydates/dates0910.aspx

All other Universities can be found by using an internet search engine.