Student loan repayments and self-assessment

gazareth

Hello

Merry Christmas all! :beer:

I'm spending Christmas Eve doing my tax return (doh). I'm employed but had some capital gains to pay hence I am doing SA online. It's being complicated by the fact that I also finished paying off my student loan in the last tax year.

SLC put in a stop notice to my employer in August-ish and at that point I had made contributions of £1,758. I then paid off the difference by direct debit and have had confirmation that all has been paid off by the SLC (presumably HMRC confirmed my PAYE amounts to them).

However, when I enter in my SL contributions on the SA form, it decides that I have underpaid my SL repayments for the year (because it just calculates 9% of my total earnings-15000) and is asking me for another £2,600.

What do I do about this? I do not owe them £2,600 for my SL - I have paid the !!!!!! off!

Sillychuckie

I just did the exact same thing. In th end, I submitted the return, and then sent them an email. I am following that up with a written letter.
If you click the ? next to the box where you first tell them you received notice of an income contingent loan, it says you will need to contact them if you have fully repaid it.

gazareth

Sillychuckie wrote: »

I just did the exact same thing. In th end, I submitted the return, and then sent them an email. I am following that up with a written letter.
If you click the ? next to the box where you first tell them you received notice of an income contingent loan, it says you will need to contact them if you have fully repaid it.

Ah OK, I missed that. I have emailed them through the HMRC website already. What method did you use to email them? And what address did you post the written letter to?

Thanks!

Sillychuckie

Email sent through the 'ask a question' section.
Self Assessment > Ask A Question > Tax Returns
It shows a small area where you can write a fairly simple question and submit it.

Letter written (just in case, and because I always like to put things on paper) to:

HM Revenue & Customs
Self-Assessment
PO Box 4000
Cardiff
CF14 8HR

SC.

Gas_Powered_Toothbrush

Sillychuckie wrote: »

HM Revenue & Customs
Self-Assessment
PO Box 4000
Cardiff
CF14 8HR.

That address is only for completed tax returns. If you're sending a letter, it goes to
HM Revenue & Customs
PAYE & Self Assessment
PO Box 1970
Liverpool
L75 1WX.

gazareth

In follow-up to this...

I have sent them an email through the website and plan to write a letter this week.

I had to call them about an issue with my tax code so I asked about this while I was on the phone. I was told that the "rules" say that I have to pay the tax, and then after 31st January, HMRC report the amount paid to the SLC, who tally it with their figures and then credit any overpayment back.

This is ridiculous and I'm going to have to fight this - do they think I just have £2,455 that I don't even owe them lying spare?!

craigpugh

I am having the same issue. I only repaid my last £159 of s.loans this year, but the calculation is just want 9% of my salary!
I was thinking of I ticking the box which says I have an income contingent student loan then putting an explanation in the 'other info' notes section. I'm not paying all that and waiting while the slc fart about before maybe one day getting repayment!

gazareth

I found a file called CSL1 (I think) that explained about student loans and self-assessment. You can write to them and request for an 'informal standover' of any amount you think you don't owe them on your student loan. If it turns out that you are incorrect later on, you'll owe them interest. So if you're sure you don't owe them, give them a call and ask fo the standover. I did it by the 'ask a question' email service and by letter and it worked after about a week.

gazareth

http://www.hmrc.gov.uk/leaflets/csl1.pdf
Last page

Tarasam

gazareth wrote: »

I found a file called CSL1 (I think) that explained about student loans and self-assessment. You can write to them and request for an 'informal standover' of any amount you think you don't owe them on your student loan. If it turns out that you are incorrect later on, you'll owe them interest. So if you're sure you don't owe them, give them a call and ask fo the standover. I did it by the 'ask a question' email service and by letter and it worked after about a week.

They cant arrange a standover by phone, its got to be in writing!