A new survey has found that four in ten Gen Zs say they wish they’d learnt more about tax when they were younger so they had a better understanding of the basics.
Understanding Tax Affairs
The findings have led HMRC to encourage young people to better understand their tax affairs by using the HMRC app.
This will be especially useful now, as exams are finishing and many are starting their summer job search. Last year, an average of 3.4 million 18-24-year-olds worked during their summer holidays.
Need help deciding between Limited or Umbrella? We are happy to help- give Sophie a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com
How the HMRC App Can Help
The HMRC app will give young jobseekers access to all the job-related details they need, simplifying and speeding up the process when starting a new seasonal job, such as their:
- National Insurance number
- Tax code
- Employment history
- Pay As You Earn (PAYE) details.
They can also use the app to check their pay before it lands in their bank, helping to make budgeting a little easier.
For more information, please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.
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