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March 2017 newsletter

Welcome to this regular newsletter from the Tax Guide for Students (TGFS) website. The purpose of the newsletter is to highlight any topical tax issues which may affect students, apprentices and student money advisers.

In this newsletter we discuss what to do if you think you have overpaid tax and are due a refund; what to do if you have received a council tax bill and are unsure whether you need to pay it; and  what the new National Minimum Wage rates will be from 1 April. We also link to recent news articles from the Low Incomes Tax Reform Group (LITRG) including the announcements made in the recent Budget.

Tax refunds

The current tax year ends on 5 April, so if you think you may have overpaid tax then this is a good time to consider what tax you should have paid with what you have actually paid. Our tax refunds section explains how you can work this out and also how to request a refund if you have paid too much tax.

There are time limits on claiming a tax refund so if you due a refund for the 2012/13 tax year you need to make a claim before 5 April 2017.

Council tax

At this time of year local authorities will be sending their new council tax bills for the period 1 April 2017-31 March 2018. The rules for Council tax (called rates in Northern Ireland) are straight-forward if you live in a household comprising of all full-time students as the household will be exempt. However, for some households this will not be the case and it is important to understand the position if you share your accommodation with adults who aren’t students, or part-time students or postgraduates writing up their research.

Our webpage on Do students pay council tax? provides more information on when households are required to pay council tax and explains about what exemptions and discounts are available, depending on your household’s circumstances.

National Minimum Wage rates

From 1 April the National Minimum Wages rates will change as below:

Age New rate per hour from 1 April 2017 Previous rate per hour from 1 October 2016
25 and over (National Living Wage) £7.50 £7.20
21 and over £7.05 £6.95
18 to 20 £5.60 £5.55
Under 18 £4.05 £4.00
Apprentice
(all apprentices under age 19 AND any apprentice, regardless of age, in first year of apprenticeship)
£3.50 £3.40

Our factsheet on the National Minimum Wage (NMW) contains information about who is entitled to be paid the NMW, what you should do if you are not being paid the NMW, and how it is calculated.

Budget 2017 – announcements affecting students

The LITRG website contains details on the main announcements in the recent Budget (please note that the proposed changes to Class 4 National Insurance contributions will now not go ahead). There will be an increase to the personal allowance (the amount most people can earn without paying income tax) by £500 to £11,500.

There were further announcements on new maintenance loans and loans for postgraduate doctoral studies.

  • Further education maintenance loans – from 2019-20 these will be available for students on technical education courses at levels 4 to 6 at National Colleges or Institutes of Technology.
  • Maintenance loans for part-time students – following on from the announcements in 2015, these loans will be available from September 2018 for degree level students. From 2019 maintenance loans will also be available for other qualifying courses such as distance-learning. The impact of these loans will be reviewed within five years.
  • Post graduate doctoral loans – loans of up to £25,000 for full-time or part-time graduates (for courses lasting up to eight years) will be available from September 2018. However, the loans will not be available for students receiving funding from a Research Council or a NHS Bursary for doctoral study. Repayments will be calculated at 6% of income above the repayment threshold (currently £21,000) and will be paid concurrently alongside existing undergraduate student loans.

News articles

LITRG website:

27 January – How to save yourself a £100 fine for late filing

6 February – Contacting HMRC? New extended opening times

24 February – Scottish income tax rates and thresholds confirmed- what do the changes mean for Scottish taxpayers?

3 March – Help for workers to understand tax on multiple jobs and auto-enrolment 

20 March – Self-employed NIC reform- a trap for the lowest paid? 

(21-03-2017)

News

  • Any questions? I have almost finished repaying my student loan – how do I avoid overpaying?
  • Any questions? I’m a student moving home to start my new course – will I have to pay council tax?
  • Welsh income tax begins
  • Any questions? What is the personal allowance?
  • Any questions? Will my family still get tax credits if I am a student?
  • Any questions? National Minimum Wage for apprentices
  • Any questions? National Minimum Wage for apprentices
  • July 2017 newsletter
  • May 2017 newsletter
  • April 2017 newsletter
  • March 2017 newsletter
  • January 2017 newsletter
  • Postgraduate Doctoral Loans
  • December 2016 newsletter
  • November 2016 newsletter
  • Help design a new service for tax appeals
  • Students – how much tax are you paying?
  • I am a student – do I need to pay council tax?
  • Welcome - the National Living Wage!
  • HMRC to start sending out Scottish taxpayer notification letters
  • Autumn Statement – ‘security first’, but many low-income workers lose out
  • Do you live in Scotland? New Tax Guide for Students guidance available
  • Working during the summer – can you claim a repayment of tax?
  • NMW campaign – a chance for employers in the hair & beauty sector to ensure they comply with the law
  • Starting work for the first time? New Tax Guide for Students guidance available
  • Tax tips if you are working this summer
  • A mixed bag of a Summer Budget – but many low-income workers lose out
  • HM Revenue & Customs withdraw all 0845 numbers
  • Time is running out to claim your tax refund!
  • Are you a landlord? Happy that you have your tax affairs in order?
  • Finished working at your Christmas job? Make sure you have not paid too much tax.
  • Changes for the self-employed
  • Tax returns – do you need to complete one?
  • The Autumn Statement – how will the measures announced affect students and apprentices?
  • Celebrating Small Business Saturday, 6 December 2014
  • PAYE tax calculations – be sure to check yours
  • Claiming for repayment of tax when you have stopped working
  • Spending a year of your course abroad?
  • Increase in the National Minimum Wage
  • If you are disabled, make sure you claim all your benefits
  • Moving into new accommodation – what do you need to know about council tax?
  • Is something phishy going on?
  • Jobseeker’s Allowance – can you claim this summer?
  • Do you know when you start repaying your student loan and how much you repay?
  • Apply for your student loan now!
  • Are you being paid the National Minimum Wage?
  • Summer vacation work for students
  • Make sure you keep more of your wages
  • Claim your tax refund or lose it forever!
  • A Budget for earners and savers – but what of the lowest paid?
  • Press Release: Raise in threshold good but money could better help elsewhere, say charity
  • Tax scams can cost you – protect your cash
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