Help With Student Loans - HERE!

Mixolydian

I have a question for you:

I'm a music student and I'm finishing my degree this year.
Ok, the thing is, as a session, live musician, and private teacher, I don't get formal or legal paperworks or payslips, so how do I show to the student loan company what's my wage? Also, I don't have a NIN, never needed one. It seems like there's a big loophole about the musician activities in the system. I don't know how I'm going to pay the thing off.

any ideas?

cheers

BruceyBonus

Mixolydian wrote: »

I have a question for you:

I'm a music student and I'm finishing my degree this year.
Ok, the thing is, as a session, live musician, and private teacher, I don't get formal or legal paperworks or payslips, so how do I show to the student loan company what's my wage? Also, I don't have a NIN, never needed one. It seems like there's a big loophole about the musician activities in the system. I don't know how I'm going to pay the thing off.

any ideas?

cheers

I'm assuming you would be registering as self employed? If you are, then HMRC deduct the appropriate payments when you submit your annual tax return.

You should have been sent an NI number a few months before you became 16. Have you ever had a summer/part time job? If you are sure you don't have one, then you'll need to call HMRC to have one issued.

Oldernotwiser

Mixolydian wrote: »

I have a question for you:

I'm a music student and I'm finishing my degree this year.
Ok, the thing is, as a session, live musician, and private teacher, I don't get formal or legal paperworks or payslips, so how do I show to the student loan company what's my wage? Also, I don't have a NIN, never needed one. It seems like there's a big loophole about the musician activities in the system. I don't know how I'm going to pay the thing off.

any ideas?

cheers

There's no loophole in the system. A musician is self employed in exactly the same way as, for example, a builder and has to pay NICs and make an annual tax return. As BB says, your loan payments will be deducted when you do this.

If you are already getting work as a session musician or teacher without paying the above then you need to regularise your situation very quickly or you'll be hit for a large sum for NICs and tax! Apart from anything else, you're working illegally.

Oldernotwiser

Mixolydian wrote: »

I mean, If I'm going to teach 10 people a week, I'm not going to register as a self employed, because the money I have to pay for that, NIC, is almost like my wage, and I have to eat, pay the rent and pay the !!!!ing bills. legal money I get is not even the half of that.

.

NICs are about 10% of your income, so don't exaggerate.

MSE isn't the place to ask for information on cheating the system; you may well find yourself being reported - and quite rightly!

Mixolydian

Mixolydian wrote: »

Thanks for the answers.

andrew_oh1983

I have been earning over £15k for 3 years now, and still no contribution to from my salary is being taken for my student loan. I have heard that if you are in a temporary contract, there is no deduction to repay your student loan, you only pay if you have a permanent contract. Does anyone know if this is true?

Oldernotwiser

andrew_oh1983 wrote: »

I have been earning over £15k for 3 years now, and still no contribution to from my salary is being taken for my student loan. I have heard that if you are in a temporary contract, there is no deduction to repay your student loan, you only pay if you have a permanent contract. Does anyone know if this is true?

No truth in it whatsoever; every time your salary goes over £15,000, even if just for one month with overtime, you should be paying. I'd contact them directly, I'm sure I've read on here that you won't be asked for a lump sum in situations like this.

andrew_oh1983

Oldernotwiser wrote: »

No truth in it whatsoever; every time your salary goes over £15,000, even if just for one month with overtime, you should be paying. I'd contact them directly, I'm sure I've read on here that you won't be asked for a lump sum in situations like this.

Who is it I should contact, SLC or my payroll?

I'm unsure as to why it has been missed, I have been on a Slary more than £15,000 since I started and no I am on substantially more, I assumed it would be taken out automatically.

oldie21

can someone please let me know when a temporary rise in our household income (in 2008-2009) will be taken into account? I have been looking at the new 2009-2010 loan/grant application for continuing students (my son will be in 2nd year next Sept) and see it is to be based on 2007-2008 tax year again. As our income is back down to the 2007-2008 level now in this new tax year, I am very worried that in his 3rd year when my daughter will also be starting uni, they won't get so much in the way of grants/bursaries yet our income will be low.

I have tried to find out from the student loans company and also my local authority what exactly is planned for the following year (will it continue to be based on household income for a fixed tax year is it going to be permanently two tax years behind?) Neither of them could answer........can anyone help?

Taiko

Regulations aren't usually available until later on, so until those have gone before parliament, I'm afraid nobody will know for certain. It used to be predictable, but it all changed drastically for 09/10.