Would this work out- rent

[Orange]

Im starting collage soon, and i was thinking would it be posible to live by myself. I would really like to move out soon. so yeah..
in the uk you get Education maintenance allowance witch is £30 a week. also you only go to collage 4 days a week, witch would give me time to have a job for 2 days a week. I should easily be able to get a job for like £6 an hour for a cupple of days a week somwhere. say 8 hours a day that would be £96. so thats £504 a month, however my plan would be to share a flat with somone else in the same situation as me bringing are joint income to £1008 a month. I worked out it will cost about £600 a month to rent somwhere inclusive of bills. We get practicly free tranceport in collage aswell. So there wil be plenty of spare money. each week for food.
this kind of seems too simple to me. Is there somthing im forgetting that flaws this idea? Im just surprised that it would be posible for students to live bythemselves without getting into debt.
PS. Im probably not going to actuly do this its just a thought and im just wondering if its posible.
Thanks.

[Dan.Linehan]

You forgot taxes on the income, didn't you? Or is that how it went from 768 --> 504?

[Orange]

Originally Posted by Dan.Linehan

You forgot taxes on the income, didn't you? Or is that how it went from 768 --> 504?

you dont have to pay tax when your in education in the uk

[Swannie]

Don't you believe it!

You do need to pay tax (and national insurance contributions) on income in the UK as a student. Unless that has changed in the last 5 years!

The confusion comes from a couple of reasons:
- most students working 1 day a week will earn under the £5,400/year tax free threshold and pay no tax.
- many students work summer jobs, during which they sign a form stating they are a student, and will not earn more than the £5,400 threshold during the rest of the year - so don't pay tax, even though they are earning more than the weekly/monthly threshold (e.g. £104/week)

So you would be earning less than the threshold on £96/week.

Regards to the maintainance grant, I assume that is based on the idea that your parents earn less than the £20,000/year amount. I'm fairly sure they won't accept you moving out on your own to claim that amount.


I hope you've talked with your parents about this. You should point out that by doing this you will be saving them money. Money that they could be putting in an account for your degree. I don't expect they would agree to paying you directly the money they save.

I'd expect their primary concern to be that working 16 hours a week will make it hard to concentrate properly on your studies.

During my A-levels I was working 10.5 hours a week. I felt I had to quit in the April before my exams because I'd been slowly slipping behind. I'd get home from work on Sat and Sun and be physically tired, not wanting to do much more than chill out.

I think it is great that you want to move out and are doing the sums to get there. However, don't underestimate the value of doing exactly as you planned, but living at home and having £8k or so in the bank when you start Uni...

Also you are highly likely to want to pay for things like driving lessons, a car, car insurance, a nice holiday away with your mates next summer... which your current budget would restrict.

[Marty McFly]

I'm afraid it won't be possible. You need roommates.

[Orange]

Originally Posted by Marty McFly

I'm afraid it won't be possible. You need roommates.

yeah, i would be planning to share.

[Orange]

Originally Posted by Swannie

Don't you believe it!

You do need to pay tax (and national insurance contributions) on income in the UK as a student. Unless that has changed in the last 5 years!

The confusion comes from a couple of reasons:
- most students working 1 day a week will earn under the £5,400/year tax free threshold and pay no tax.
- many students work summer jobs, during which they sign a form stating they are a student, and will not earn more than the £5,400 threshold during the rest of the year - so don't pay tax, even though they are earning more than the weekly/monthly threshold (e.g. £104/week)

So you would be earning less than the threshold on £96/week.

Regards to the maintainance grant, I assume that is based on the idea that your parents earn less than the £20,000/year amount. I'm fairly sure they won't accept you moving out on your own to claim that amount.


I hope you've talked with your parents about this. You should point out that by doing this you will be saving them money. Money that they could be putting in an account for your degree. I don't expect they would agree to paying you directly the money they save.

I'd expect their primary concern to be that working 16 hours a week will make it hard to concentrate properly on your studies.

During my A-levels I was working 10.5 hours a week. I felt I had to quit in the April before my exams because I'd been slowly slipping behind. I'd get home from work on Sat and Sun and be physically tired, not wanting to do much more than chill out.

I think it is great that you want to move out and are doing the sums to get there. However, don't underestimate the value of doing exactly as you planned, but living at home and having £8k or so in the bank when you start Uni...

Also you are highly likely to want to pay for things like driving lessons, a car, car insurance, a nice holiday away with your mates next summer... which your current budget would restrict.

so you reckon i could do it but It would be very hard and restricting?

[jpmcgrew]

Originally Posted by Orange

you dont have to pay tax when your in education in the uk

Damn, that would be nice. To think of all the money I would have made as a student...