Be tax-smart about savings and other income.
As a student you may be receiving income from your parents and family, or through a scholarship or bursary, as interest on your savings or from letting out a room. But do you know if you should be paying tax on this income? And if you are paying tax, should you be or are you entitled to a refund?
We cover what other income you may be receiving, whether tax should be deducted from it and ways to stop your income being taxed. We also tell you how to claim a refund if you have paid too much tax.
On our main LITRG website we cover:
- Do I have to pay tax on my savings?
- What tax is payable on property income, such as letting out a room?
This section of the website contains three pages which are of particular interest to students.
- My family has given me some money – might I need to pay tax on it?
- Do I have to pay tax on scholarships and awards?
Also if you think you have overpaid tax then our tax refund section will explain how to check and request a tax refund.