Phil Palmer

Hello, SLC moved me on to their Student Loan Overpayment Prevention Scheme. They stopped my payments through PAYE part way through the year and set up direct debits. On my self assessment tax return, when I select YES, in answer to "I have an Income Contingent Repayment student loan" and include the amount deducted by my employer. The calculation of my self assessment includes the amount that would have been due through PAYE. If I submit like this it would actually result in a larger overpayment of my balance as it exceeds my remaining balance. Could you confirm what the correct response on the self assessment should be given I still have a balance but should not be paying the PAYE amount as well? Many thanks

Hello HMRC Admin! Super useful thread. Thanks for all the good info. I have a slightly different scenario. SLC asked me to move from PAYE repayments to direct debit based repayments based on when the outstanding balance will likely be settled to prevent overpayment. Would this no longer be income contingent, given it is now fixed repayment value not based my income? So in this scenario, would I select 'No' on my self assessment in answer to "Our records show that you have an Income Contingent Student Loan for which repayment began before 6 April 2023. Is this correct?"~ Many thanks,