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Self-assessed Tax, PAYE and student loan
NationalElfService
Posts: 13 Forumite
in Cutting tax
Hi all,
So i'm filling out my first ever SA tax return for some rental income I've earned between Nov-Apr last year.
I was merrily filling in the form, and it asked me to enter my Student Loan repayments (payment plan 1) for last year, which was £753.
When it came time to the actual calculation there was a line that read:
"plus Student Loan repayments" which amounted to £846!
Does this money go to the Student loan company or is it paid to HMRC?
I wasn't really expecting it, but if it goes towards paying off my student loan a bit faster I guess I can't really complain too hard. Just hoping to understand where this money goes!
Thank you,
NES
So i'm filling out my first ever SA tax return for some rental income I've earned between Nov-Apr last year.
I was merrily filling in the form, and it asked me to enter my Student Loan repayments (payment plan 1) for last year, which was £753.
When it came time to the actual calculation there was a line that read:
"plus Student Loan repayments" which amounted to £846!
Does this money go to the Student loan company or is it paid to HMRC?
I wasn't really expecting it, but if it goes towards paying off my student loan a bit faster I guess I can't really complain too hard. Just hoping to understand where this money goes!
Thank you,
NES
0
Comments
-
HMRC pay it to the student loan company0
-
Your PAYE student loan repayments are also taken by HMRC and passed on to SLC at the end of the year.0
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