Student Loan Deductions - Reducing student loan over-repayments
Written by Ian Congreave - Filed under: Statutory and Other Payments and Deductions, Student Loan Deductions on December 23rd, 2009 | No Comments »
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On 14 December 2009, the Student Loans Company (SLC) introduced a new initiative to limit the occurrences of over-repayments of loans through the payroll. The problem arises frequently where regular deductions are made throughout a tax year and it is only when the year-end P14 is submitted that it is discovered that more has been repaid than is owed.
Posted December 23rd, 2009 | No Comments »
From the start of the 2009/10 tax year, the statutory Regulations that govern the operation of the repayment of student loans have been extensively rewritten, consolidating changes that have been made since 2000, when the previous Regulations were made, and incorporating changes that reflect tax legislation included in the 2007 and 2008 Finance Acts. At the same time, the language and style of the Regulations have been updated for consistency with the ongoing work to modernise all of the tax legislation.
