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Young People and Taxes

Newsletter issue - July 2010

The summer is here and the exams are over, so many young people will be leaving school or college this month to take their chances in the jobs market. It is a daunting prospect; trying to cope with the tax and benefits systems for the first time.

If your child is in this position you could point them towards the HMRC website designed for 16 to 19 year olds: http://www.taxmatters.hmrc.gov.uk

It covers topics such as NI and how the NI number is important, what is PAYE and self-assessment. There are also quizzes and a teacher's area including materials teachers can use to explain tax to different age groups of students.

As a parent you may need to tell HMRC that your child is no longer in full-time education.

Although Working and Child Tax Credits are administered by HMRC who also administer Child Benefit, you will need to make to make a separate call to the Tax Credits office as their computers are not linked into the Child Benefit system.