When does HMRC inform slc of yearly deductions?

jonnyb1978

I am pretty sure i have paid of my student loan yet when i log in it states i still owe £863 and interest calculated until the end of June.

The end of tax year 2012 my P60 states i have paid £855 the last financial year. Am i correct in saying that HMRC are supposed to inform slc how much i have paid the last year. When do they do this? Its been nearly 4 months since the end of the tax year. Surely it should of been done by now.

I had a direct debit set up which i have cancelled.. I dont want them chasing me because HMRC are dragging their heals.

Thanks

Poolie

Your employer has to complete the annual return (P14) to HMRC which tells the revenue about the tax, NI and student loans you have paid. Send SLC a file on regular intervals. Due to the number of accounts which have to be updated, SLC have to stagnate the file loads otherwise the system would never finish updating in plenty of time. Statements can be issued from August/September time.

If you think you have close to paying off your loan, it is best to contact SLC and they can work the numbers through the system and arrange to get it stopped.