Student Loan - P800 as proof of income

mtbbuxton

My son will be starting his 2nd year in Sept and we need to get our application in for his loan/grant.but I have a bit of an issue with the paperwork.

In 2012 my job was transferred from one employer to another (from NHS to Private Sector) Unfortunately the new employers didn't deduct the pension payments correctly and took them off AFTER the tax rather than before. This means that the taxable income on my P60 is incorrect, but not by the magical 15%. However it is of sufficient difference to have an effect on his Student Grant award.

HMRC have now rectified the error, issued a rebate and a P800. Is it possible to use the P800 for the purposes of proving income, as this is the document that actually gives my correct taxable income?

We need to get cracking or risk a repeat of last years wait until November for payment, so any advice would be gratefully received.

M x

Mrs_Arcanum

mtbbuxton wrote: »

My son will be starting his 2nd year in Sept and we need to get our application in for his loan/grant.but I have a bit of an issue with the paperwork.

In 2012 my job was transferred from one employer to another (from NHS to Private Sector) Unfortunately the new employers didn't deduct the pension payments correctly and took them off AFTER the tax rather than before. This means that the taxable income on my P60 is incorrect, but not by the magical 15%. However it is of sufficient difference to have an effect on his Student Grant award.

HMRC have now rectified the error, issued a rebate and a P800. Is it possible to use the P800 for the purposes of proving income, as this is the document that actually gives my correct taxable income?

We need to get cracking or risk a repeat of last years wait until November for payment, so any advice would be gratefully received.

M x

Given that you can use the last payslip of the financial year for finance purposes I cannot see why not.

P60s are somewhat of a blunt instrument when it comes to Student finances IMO as they include all taxable income which can vary, rather than the basic income.

Good heads up re the pension. I have discovered I am being taxed pre pension deductions so will chase this with payroll at work.

mtbbuxton

Thank you for the reply Mrs Arcanum. It's been niggling at me since I was made aware of the muck up, so hopefully now DS2 will be able to get his full Grant.

Hope you get your pension deductions speedily sorted out with Payroll.

M x

TokyoMaru

I had a similar problem with this and it took months to sort out.

The best thing to do is phone them up and tell them the situation and ask them exactly what they want. Student finance seem a bit sloppy these days. Just be sure that they provide you with the right information because it took me several phonecalls to actually get the right answer.

mtbbuxton

TokyoMaru wrote: »

I had a similar problem with this and it took months to sort out.

The best thing to do is phone them up and tell them the situation and ask them exactly what they want. Student finance seem a bit sloppy these days. Just be sure that they provide you with the right information because it took me several phonecalls to actually get the right answer.

We had a nightmare last year thanks to SFE not using the proof of income I sent them (copies of P60's) and my son's Loan and Grant didn't come through until late November! Every time I phoned I got differing advice despite it being based on the same information provided. They didn't seem to understand that by virtue of the fact my son qualified for a grant, there wasn't enough money in the pot to subsidise him indefinitely.

I've yet to find one person with anything good to say about SFE

M x