Overtime triggered Student Loan

elisebutt65

Long story cut short - I teach and get pId on a term time contract for 16 hours a week. My salary is £10,580. However I am timetabled for extra hours than my contract states, so they paid me the overage from September up until this month.

So Yeay! An extra 835 in my pay-packet, except it's triggered a payment to Student Loans , which I wouldn't mind but there is no way I'll have earned close to £15000 by April!!

Can I claim this back at the end of the tax year??

McKneff

In a word 'No'

Taiko

In a more accurate word, yes.

If your income at April is less than £15,000 you'll be able to reclaim it.

butler_helen

yes and if it's PAYE your HR department can ensure it happens. This happened to me too... was like a rubbish interest savings account for a while.

McKneff

My apologies, I have been misinformed.:o

ruby_eskimo

The same thing happened to me, all of a sudden I started getting charged for Student Loan, but only because I started working nights and got a little extra each month even though my salary didn't change. You can claim it back at the end of the tax year but really would you want to? This way you are at least paying a tiny bit off each month?

Poolie

As Taiko explained it can be claimed back, but not as butler_helen mentioned from your employer. You would need to wait till the end of the tax year when you receive a P60 and write to SLC directly requesting a refund for below threshold repayment. They may not do anything about it straight away till the P14 return is received from your employer (school or council).

If your P60 shows your gross salary was over £15,000 for the year then you would not be eligible for the refund.