Do my wages get taxed?

Megahurtz400 · 23 Jun 2008 at 09:57

As im only 16, some people say they wont, some people say they will?

Just need to know, first paycheuqe coming from my first real job (Paper round doesnt count does it?

) on friday.

Cheers,
Dan

dirtydog · 23 Jun 2008 at 09:59

Baplad · 23 Jun 2008 at 10:00

Did you think Gordon Brown would let you off that easy!

singist · 23 Jun 2008 at 10:00

Any income over your personal allowance should get taxed no matter who you are.

Megahurtz400 · 23 Jun 2008 at 10:00

Bubba said:
Did you think Gordon Brown would let you off that easy!

Lol.

Just someone said they didnt so i needed clarification.

Cheers

peige · 23 Jun 2008 at 10:00

Yes, welcome to work

Glaucus · 23 Jun 2008 at 10:02

However if you know you will earn less than your tax allowance you can fill in a form so they don't tax you. You still pay NI though. No point filling this form in though if you know you will go over as they'll just start reclaiming the tax towards the end of the year. Leaving you with small pay packets.

Col_M · 23 Jun 2008 at 10:07

Yes and No

If you earn more than about £5400 a year (£450 a month or £104 a week) then you'll be taxed at 22% on anything above that. If you don't earn that much then you won't pay tax.

Your personal allowance may vary though depending on your circumstances.

Edit: I knew the 10% band had been scrapped but the basic rate will be reduced from 22% to 20% it seems, so what I said isn't 100%

Megahurtz400 · 23 Jun 2008 at 10:08

Itll be a lot less than that, only work saturdays and sundays for £5.00ph, which is quite good for my age

Cheers for all the info.

dirtydog · 23 Jun 2008 at 10:13

Hmm you said it was a 'real job' but then you say you only work weekends

In that case you won't pay any NI or income tax.

Glaucus · 23 Jun 2008 at 10:14

dirtydog said:
Hmm you said it was a 'real job' but then you say you only work weekends

In that case you won't pay any NI or income tax.

You still pay NI

dirtydog · 23 Jun 2008 at 10:14

AcidHell2 said:
You still pay NI

Not if he earns less than about £100pw he won't.

Glaucus · 23 Jun 2008 at 10:17

I thought you paid ni on all earnings.
I've always been taxed NI, even if I was below the tax free threshold.

dirtydog · 23 Jun 2008 at 10:18

AcidHell2 said:
I thought you paid ni on all earnings.

Nope. The difference between it and income tax is, it is calculated weekly. So even if you only work one week in the year, if you earn over ~£100, you will pay NI and you won't be able to claim it back, like you can with income tax.

But if he works just weekends for £5/hr he won't be earning enough to pay it.

Glaucus · 23 Jun 2008 at 10:19

dirtydog said:
Nope. The difference between it and income tax is, it is calculated weekly. So even if you only work one week in the year, if you earn over ~£100, you will pay NI and you won't be able to claim it back, like you can with income tax.

that makes sense.

dirtydog · 23 Jun 2008 at 10:19

NI thresholds.

http://www.hmrc.gov.uk/rates/nic.htm

2008-09, £105 per week.

tres · 23 Jun 2008 at 10:36

NI and Tax thresholds are pretty much the same
he won't be paying either on weekend work

Megahurtz400 · 23 Jun 2008 at 11:12

So thats a no?

dirtydog · 23 Jun 2008 at 11:14

Yes.

Megahurtz400 · 23 Jun 2008 at 11:15

Cool.

My head was about to asplode for a minute there

Yay more money for me xD

Cheers again