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Student loan repayment amounts
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If6was9 said:This is an interesting thread and does highlight some injustices in the system.
Further to the fluctuations in pay, it can lead to unjust outcomes another way. I have a colleague who due to a mix up at HMRC and their employer, they were put on the wrong tax code. They were also paid their first 2 months in one payment, meaning SLC took 9% of all the 2nd months earnings, not just the wage above the threshold. Also they have been taxed more than they should have been for several more months. When that is refunded it will be through payroll meaning SLC will again take way more than if their payment had been correct each month (approx £100 extra more a month) meaning due to errors elsewhere, they're about £500 down on where they should be.
Is there no way of getting this refunded by SLC?
Student loan repayments are calculated on gross earnings per pay period. Any tax refund will reduce (or remove completely) the tax due in that pay period but it won't increase their gross earnings, therefore it won't affect their student loan repayment.
For student loan repayment calculations any tax due or refunded in a pay period is irrelevant.
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