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Posted Wed, 11 Oct 2023 13:52:32 GMT by hannah
Hi I am completing my self assessment and have an issue with my student loan. I finished paying off my student loan in March 23. When I am completing my self assessment I've put in the student loan details and payments for the year, however, there doesn't seem to be an option to mark it as fully paid off. Therefore, when I check my return the payment amount includes a lump sum related to student loans. I obviously don't want to be paying this as my loan is fully paid off. How can I reflect this in my self assessment? Thanks!
Posted Mon, 16 Oct 2023 09:23:38 GMT by HMRC Admin 5
Hi

You do not include the student loan on the tax return, so answer 'no' to this question.
You will then need to contact Student Loans to arrange for any over repayment based on employer deductions to be refunded.

Thank you
Posted Fri, 08 Dec 2023 17:26:13 GMT by Maxtv76
I have had this same problem and now this seems to be why I am paying so much tax. My student loan was all paid off by April 2022, but my self assesment for 2022-2023 shows a large sum of "plus 3000 for Student loans." This then makes the tax bill go really high. It's really not explained well at all. I think this is why i paid so much more in the previous tax year and then ended up getting as refund. This year I have now had a tax code change which is a "K" code which is then trying to tax me over £2000 for not paying enough tax in this year. It's so confusing!
Posted Fri, 15 Dec 2023 07:43:48 GMT by HMRC Admin 25
Hi Maxtv76,
Please change your Self Assessment tax return to show that you do not have a student loan to update your tax record. 
Thank you. 
 

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