Student Loan Deductions

soph8484

Hi

I was hoping that someone may be able to help me.

I have just accepted a job which includes a car allowance which i will receive monthly.

I understand that i will be taxed on this as though it is a normal income . Therefore if i am using an income tax calculator to work out my take home i will put my basic salary plus the car allowance.

However will my student loan deduction be worked out to include this amount or just from my basic salary.

It is only a difference of £22 but it all helps!

Thanks

richard9991

soph8484 wrote: »

Hi

I was hoping that someone may be able to help me.

I have just accepted a job which includes a car allowance which i will receive monthly.

I understand that i will be taxed on this as though it is a normal income . Therefore if i am using an income tax calculator to work out my take home i will put my basic salary plus the car allowance.

However will my student loan deduction be worked out to include this amount or just from my basic salary.

It is only a difference of £22 but it all helps!

Thanks

What has this got to do with state benefit or tax credits

MrsManda

Your student loan repayments will be based on your gross income so will include the car allowance.

http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3867311&_dad=portal&_schema=PORTAL

If you put your details into the listentotaxman you'll get an idea of what you'll pay in student loan repayments, income tax and national insurance.

soph8484

richard9991 wrote: »

What has this got to do with state benefit or tax credits

I am new to this and couldn't find a better subject to put it under. I think you will find that other questions regarding tax are under this topic which is why I choose it.

I also think that you should be encouraging posts not writing negative comments - everyones questions/answer may help someone out. Is that not the point of the forum??

soph8484

Mrs Manda - Thank you so much for your very helpful reply.
:j