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Redundancy - is student loan deducted?
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New_Bill
Posts: 10 Forumite
Hi
Hoping someone on here may be able to help or point me in the right direction.
Looks like I am being made redundant towards the end of this year - hoping to get another job relatively quickly.
The package being offered is good, and it is my understanding that anything under £30k is non taxable.
However does anybody know whether or not the Student Loan Company will deduct an element of this redundancy payment? I have been told conflicting stories - some have said they cannot as the payment is non taxable - others have said the Student Loan does not fall under the same category as tax/NI and they will look to take c9%?
Anybody had Student Loan deducted from a redundancy payout?
Thanks in advance for any advice.
Hoping someone on here may be able to help or point me in the right direction.
Looks like I am being made redundant towards the end of this year - hoping to get another job relatively quickly.
The package being offered is good, and it is my understanding that anything under £30k is non taxable.
However does anybody know whether or not the Student Loan Company will deduct an element of this redundancy payment? I have been told conflicting stories - some have said they cannot as the payment is non taxable - others have said the Student Loan does not fall under the same category as tax/NI and they will look to take c9%?
Anybody had Student Loan deducted from a redundancy payout?
Thanks in advance for any advice.
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