Student loan 5 (from 2023) and repayments from pension income
Does savings, pensions or investment income count for loan repayments?Yes, but only if, in total, you have additional income of over £2,000 from savings interest, pensions or shares and dividends. If so, this will also be treated as part of your income for repayment purposes. You'll need to repay 9% of that too via self-assessment.
I have previously been advised by HMRC that student loan repayments are not taken from Pension income (even if greater than 25K p/a) unless a self-assessment tax return is needed/completed (and income is greater than 25K p/a).
The info in this week's email seems to contradict that - or is there a mistake in that text?
Can anyone help advise/confirm the situation and under what circumstances student loan repayments (under the scheme starter in autumn 2023) are made from pension income?
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