Students working over the festive season are reminded that they can claim the tax back on holiday jobs where the total income for the year is below the annual personal allowance of £6,475.
To take advantage of this and make sure no tax is deducted from their earnings, students are advised to complete the Form P38.
The Form P38 advises employers not to deduct tax from students who are solely working during a holiday where their pay is not going to exceed the tax free personal allowance.
If the students pay is at or above the lower earnings level for National Insurance Contributions, these are still deducted.
If you are a student and forget to provide your employer with the Form P38, you can still reclaim any tax deducted by submitting a Form P50 with your details.
If you were working during the summer and didn't exceed the tax free personal allowance limit - then get in touch with your tax office as you could be due up to £340 back in tax!
More information about these forms can be found at HMRC's website
Student Tax Calculator
Use our tax calculator
to check if you have overpaid income tax and are a due a refund - All you need to do is enter your gross income for the year and enter any tax you have paid - if you have paid tax the calculator will tell you how much you can claim back. Either way, a full breakdown of tax and NI due will be shown.