Shropshire students who take a summer job to help pay for their
education are being urged to ensure their paperwork is in order, to
avoid racking up an unnecessary tax bill.
Students earning less than £7,475 in a financial year are
not eligible to pay any tax.
But Chris Dorricott, from the payroll team at Shrewsbury
accountancy firm Dyke Yaxley, said failure to fill in the correct
paperwork when taking on a summer job could risk unwarranted tax
deductions.
"Many students take on seasonal work in order to pay for their
education these days, and many employers benefit from the extra
pool of temporary recruits," he said.
"However, HM Revenue & Customs has said that employers and
students should be aware of the form filling which will avoid any
unwarranted tax deductions."
To ensure employers do not deduct any tax which is not owed, Mr
Dorricott urged students to fill in the form known as P38(S), which
can be downloaded from the official HMRC website,
www.hmrc.gov.uk.
"Students who fail to fill in a form won't lose out, as they can
reclaim any tax paid. But by completing the correct form in the
first instance, student workers can avoid any wait in getting their
money."
The Dyke Yaxley message was echoed by Stephen Banyard, director
general of personal tax at HM Revenue & Customs.
He said: "We don't want Shropshire students to pay tax when they
don't owe any, so we're encouraging them to fill in a P38(S) and
send it back to us.
"That way, they can keep all the money they're earning for their
student life essentials."
For more information about Dyke Yaxley, please visit their
website here: www.dykeyaxley.co.uk