HMRC launches student tax awareness campaign

HM Revenue and Customs (HMRC) is targeting small business owners of the future with its new Student Tax Aware Week initiative.

The government aims to equip students with the tax "basics" - providing guidance on tax codes, tax returns, tax forms and national insurance issues.

Director of HMRC individuals customer unit commented: "With three quarters of students working it's vital they understand they have the same responsibilities as everyone else for their tax and national insurance."

Student Tax Aware week, which has been welcomed by the National Union of Students, will run until March 10th.

A new website has been launched alongside the campaign, which includes an online student tax calculator, personal tax allowance details and information about tax on savings.

According to government research, 76 per cent of students are currently in paid employment - with a majority working in the retail sector.