2022/23 - When Will Student Loan Payments Carry Over?

Thanks for reading and your advice I completed a self-assessment for 2022/23. Employer A did not deduct Student Loans and as such I was due about £6000 of student loans from that employment. Employer B did deduct student loans so that part was fine. After entering claims for professional fees and pension contributions, the balance of the student loan that I had to pay came down and I am no longer presented with a bill. The amount in the self-assessment contributed is more than what I paid through employments ast year though. I take it the tax system just magically allocates some of my deductions to this and it all balances out? If these are going to be recognized as contributions to my student loan balance when does that carry over to the student loans company? The amount I have paid is now seemingly bigger than my remaining Student Loan balance so it would very much be in my favour if the self-assessment amount was deducted from that balance. When will this carry over? Do I need to contact SLC myself to let them know? I am Plan 4 (Scotland)

Hi,

You will need to submit the return in 1st instance for the figures to be seen and then contact SLC to ensure all details marry up.

Thank you.

Thank you for getting back I have submitted the rev return. Student Loans Company tell me that although HMRC have acknowledged that I have settled the student loan payments for 22/23, that HMRC do not pay this money to SLC until March 2024. They say that I must wait until 2024 when HMRC finally pay this to them and I would then be refunded my ongoing salary deductions. Is this normal? Thank you

Hi,

The student loan is a specialist department and if this is what they have told you, it will be correct.

Thank you.