Exastorm
Joined: 5/9/2023
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RE: Student loan repaid during tax year incurs self assessment charge
Many thanks both for your replies. Could I just clarify, when you say that I've completed my tax return correctly, was the correct answer to select "no" for the "Did you receive notification from Student Loans Company..." question? The linked article doesn't cover situations where student loans were fully repaid, and the response from Admin 20 was a bit unclear if they were responding to selecting "Yes" for the student loans opening question post, or the subsequent "No" from Admin 19. Many thanks -
RE: Student loan repaid during tax year incurs self assessment charge
Interestingly, answering "No" to the "Did you receive notification from Student Loans Company..." question removes the charge from the final calculation. The final total looks correct, should I submit my return omitting the student loan? I'm not sure if that sounds right... -
Student loan repaid during tax year incurs self assessment charge
Hello, I'm in the process of completing my self assessment for 2022 - 2023. During that year I repaid my student loan via PAYE. When answering the question "Did you receive notification from Student Loans Company that repayment of an Income Contingent Student Loan began before 6 April 2023?" I select "Yes" and later in the form add how much student loan I've repaid through PAYE. When I get my final tax calculate there's a section added; "Plus student loan repayments" which is in the region of around £5000. Is there a way to indicate that I've already repaid my student loan in full so that I don't incur a charge for it? Many thanks