This post has been de-listed
It is no longer included in search results and normal feeds (front page, hot posts, subreddit posts, etc). It remains visible only via the author's post history.
Hey there, I'm 19, currently starting my first year of uni and will have earnt over £12,570 this year (I'm not including the maintenance loan I got, that's not taxed, right?), I'll be in the "Basic Rate" band with a 20% tax rate according to the Gov.UK site and I was wondering what the best way of going around this would be, are there any resources that explain it well? This'll be my first time paying for any of this stuff since I never actually made this much before.
Apparently the tax year is from The current tax year is from 6 April 2022 to 5 April 2023, when would I need to be paying the taxes? I've seen mixed results online so I couldn't really figure that out.
Also I'm correct to assume that I don't have to pay any tax on the first £12,570 I earnt, only for everything after that, right? Also since I'm making most of this money through part-time freelance work, that means the first £1000 I made this year doesn't need any tax paid on it, right, Only everything after that?
Finally, any legal ways to reduce the amount I have to pay? I had to buy a new PC for my freelance work since my old one couldn't handle it, I'm not sure if I can like deduct that or something?? Any little helps since I'd like to ideally save as much as possible while I'm in uni haha.
Subreddit
Post Details
- Posted
- 2 years ago
- Reddit URL
- View post on reddit.com
- External URL
- reddit.com/r/UKPersonalF...