Starting work for the first time? New Tax Guide for Students guidance available
The Low Incomes Tax Reform Group (LITRG) has created new guidance in the ‘employed’ section of the TGFS website, providing information on various tax issues that you might face when you first start work as an employee, plus links to other relevant webpages and resources on the TGFS website.
When you start work for the first time, there are lots of things to think about. LITRG have created their new ‘first time workers’ webpage on the TGFS website with the aim of gathering together in one place all the tax responsibilities you need to consider when you first start work. This should make it easier for you to concentrate on settling into your job.
It is intended that new employees can use the webpage as a checklist for things related to tax and employment. The page sets out basic information about key forms new employees will encounter, such as payslips and form P60. In addition, it provides an overview of the Pay As You Earn (PAYE) system, income tax and National Insurance contributions, with links to more detailed information available elsewhere on the TGFS website.
There are also sections on issues that might affect specific employees, such as the national minimum wage, student loan repayments and what happens if you have more than one job.