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Student loan repayment - calculated each month?
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Does anyone know if the amount of student loan to be repaid from salary is typically calculated by the employer each month?
Someone I know is in a first job after graduating in 2021 - usual monthly pay is under the threshold but latest pay includes a one-off bonus that has triggered a student loan deduction for this month. When pay returns to normal next month (below the threshold), will there be zero deduction?
Many Thanks
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I believe it's calculated per pay day so nothing would be paid next month.
It may be possible to get a refund in certain circumstances.
https://www.gov.uk/repaying-your-student-loan/getting-a-refund1 -
Thanks - looks like there is a possibility for a refund IF by the end of the tax year the total is under £27295
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