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Student Loan/ Inland Revenue
GrizzlyAdams_2
Posts: 201 Forumite
I hope this is in the right thread.
If a student pays off the loan how does the loan company inform the Inland Revenue? Do they give them a written statement to say how much was paid and when or just a note to say that it is paid off?
The situation is one where the money was gifted to the student with the condition that she not declare who it came from. Obviously, if IR ask, she would be obliged to tell them -creating a sticky situation with the person who gave it to her.
My advice was that she is not responsible for the relationship between IR and the person thus she should just pay it off and not worry. I doubted that they would ask.
Am I right?
If a student pays off the loan how does the loan company inform the Inland Revenue? Do they give them a written statement to say how much was paid and when or just a note to say that it is paid off?
The situation is one where the money was gifted to the student with the condition that she not declare who it came from. Obviously, if IR ask, she would be obliged to tell them -creating a sticky situation with the person who gave it to her.
My advice was that she is not responsible for the relationship between IR and the person thus she should just pay it off and not worry. I doubted that they would ask.
Am I right?
0
Comments
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If she is paying the money , then 'if' HMRC ask questions where the money came from then any responsibility would lie with her to decalre it, it is very unlikely that HMRC will ask for the source of the money.I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0
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