Torpi

The HMRC team replied to me here if this helps anyone else: https://community.hmrc.gov.uk/customerforums/sa/4fb91979-b303-ef11-a81c-002248c8dbba They confirmed you should say you do not have an income contingent loan.

Also in the same situation as Phil Palmer and tobassist. If you fill in the tax return it excludes all the payments you made via Direct Debit so expects quite a hefty tax payment which would then result in an overpayment... It would be good just to get an explanation of the process if we do tick "Yes" to the Income Contingent Loan, do HMRC then speak to SLC and take the Direct Debit payments into account before actually taking payment or adjusting Tax Codes? Would it be okay to select "No" due to it no longer being Income Contingent (as now fixed repayment) and then explain the situation on the additional information on the tax return thus preventing any additional deductions being made?

Hi, I am within 2 years of paying off my Plan 1 Student Loan and I'm very confused about self-assessment. I have made payments within the 23/24 year via PAYE, these stopped in December and I was moved over to the Direct Debit scheme to avoid overpayments. When filling in my self assessment return, do I select "No" for "Did you receive notification from Student Loans Company that repayment of an Income Contingent Student Loan began before 6 April 2024?" due to the fact that I am now repaying by direct debit and I am therefore no longer on an Income Contingent loan? If I select "Yes", I have noticed that the tax return expects a large repayment as it isn't taking into account the direct debit repayments that have been made. Any help would be great. Thanks