Student Loan Plan 1 if reached threshold?
dogshampoo
Posts: 1 Newbie
Hi all
I have been informed that because I reached the threshold (£18300 2018/19) I am not entitled to any refund or for any year where I may have earned over threshold. This has been explained because student loan company calculate repayments month to month - and I am paid monthly. My employer have change payroll company which has caused pay issues month to month resulting in wage overpayments some months and underpaymets some months. Is it right that I have overpaid student loan and because my yearly earnings have exceed that threshold I amtherefore not entitled to a refund? This seems unfair as HMRC would refund any overpaid tax and the threshold amounts are set each year for a reason?:wave::wave::wave:.
I have been informed that because I reached the threshold (£18300 2018/19) I am not entitled to any refund or for any year where I may have earned over threshold. This has been explained because student loan company calculate repayments month to month - and I am paid monthly. My employer have change payroll company which has caused pay issues month to month resulting in wage overpayments some months and underpaymets some months. Is it right that I have overpaid student loan and because my yearly earnings have exceed that threshold I amtherefore not entitled to a refund? This seems unfair as HMRC would refund any overpaid tax and the threshold amounts are set each year for a reason?:wave::wave::wave:.
Is this fair by student loan plan 1 system 4 votes
Yes
100%
4 votes
No
0%
0 votes
Don't know
0%
0 votes
0
Comments
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dogshampoo wrote: »Hi all
I have been informed that because I reached the threshold (£18300 2018/19) I am not entitled to any refund or for any year where I may have earned over threshold. This has been explained because student loan company calculate repayments month to month - and I am paid monthly. My employer have change payroll company which has caused pay issues month to month resulting in wage overpayments some months and underpaymets some months. Is it right that I have overpaid student loan and because my yearly earnings have exceed that threshold I amtherefore not entitled to a refund? This seems unfair as HMRC would refund any overpaid tax and the threshold amounts are set each year for a reason?:wave::wave::wave:.
The thresholds apply to pay periods (normally monthly).
You can only get a refund of any repayments if you earned under the annual threshold - which you didn't. That's the rules.0
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