Student finance calculation - nonsense or true ?
Finally after two years !! of back and forth and complaining to the CEO my wife and I finally have the income they used to calculate my daughters student finance. They seem to have got my income correct but my wife's income I just dont understand
They say she earned £14k as a part-time sales manager which is correct but they then go onto say as she has a K tax code she is receiving benefits in kind. We have explained to them numerous times she does have a company car and sent a P60 but they are saying based on their calculation she is earning an extra Taxable benefit in kind of £13,440.00 ir her earnings are £29k which is total nonsense. She does receive a small amount of private fuel but how does having a company car mean our daughter ends up with less than a third of what she could get
If I'm wrong thats fine but does someone there know if this is correct
cheers
They say she earned £14k as a part-time sales manager which is correct but they then go onto say as she has a K tax code she is receiving benefits in kind. We have explained to them numerous times she does have a company car and sent a P60 but they are saying based on their calculation she is earning an extra Taxable benefit in kind of £13,440.00 ir her earnings are £29k which is total nonsense. She does receive a small amount of private fuel but how does having a company car mean our daughter ends up with less than a third of what she could get
If I'm wrong thats fine but does someone there know if this is correct
cheers
0
Latest MSE News and Guides
Childcare budget boost
More support for children from nine months and those on Universal Credit
MSE News
Replies
As Zagfles says a P11D will give the actual figure of the value of the benefits.
Using the correct figures of £9,706 maximum and £4,524 minimum it's still not possible for the maintenance loan to only be a third of what it would otherwise be with an extra £14,000 or so included in the household income calculation.