Do I need to let student finance know about my new job?

wildstriker

I've just been offered a 6 month full time position and the salary is £18,000.

Do I still need to let student finance know about this even or will they not need me to?

Comments will be appreciated.

Thanks.

Ed-1

wildstriker wrote: »

I've just been offered a 6 month full time position and the salary is £18,000.

Do I still need to let student finance know about this even though the salary is below the threshold?

Comments will be appreciated.

Thanks.

When did you take out student loans?

Assuming you have an income contingent loan, you don't need to let the SLC know about a new job unless you are applying for student finance. If you are in repayment of a student loan SLC will match your new employment with HMRC and send a start letter to the employer to tell them to start deducting student loan repayments from your salary.

wildstriker

Ed-1 wrote: »

When did you take out student loans?

Assuming you have an income contingent loan, you don't need to let the SLC know about a new job unless you are applying for student finance. If you are in repayment of a student loan SLC will match your new employment with HMRC and send a start letter to the employer to tell them to start deducting student loan repayments from your salary.

I last took out student loans in 2011. I graduated in 2012.

So I basically just do nothing as student loans company will find out (without me telling them) and do the rest?

agrinnall

You have to tell your employer about your student loan so that they fill in the new starter checklist correctly which informs HMRC that you are eligible to start repayment.

Lokolo

There is a box on the P46 form (when you get a job you will have to either hand in a P45, whcih youll get from a previous job, or you fill in a P46 form if you did not have a job before) with says "I have a student loan". You just need to tick that.

agrinnall

Lokolo wrote: »

There is a box on the P46 form (when you get a job you will have to either hand in a P45, whcih youll get from a previous job, or you fill in a P46 form if you did not have a job before) with says "I have a student loan". You just need to tick that.

Except the P46 has been replaced by the New Starter Checklist that I referred to (which asks that same question).