Share this content
0
292

Tax repayment made to Student Loans Co.

End of year tax repayment made to Student Loans Company

Didn't find your answer?

Search AccountingWEB

Whilst I do work in practice, this question relates to myself....

I recently received a statement from the Student Loans Company, showing the balance throughout the 2017-18 tax year (Plan 1).  It shows that a tax repayment was made to them from HMRC.

Firstly, I have not actually overpaid tax, based on either my P60 figures or those on my March 2019 payslip.

Not yet contacted SLC or HMRC as I have been very busy lately and the amount is not bank-breaking.  Just curious whether anyone else has seen this before?

Replies

Please login or register to join the discussion.

avatar
14th May 2019 16:32

Possibly the SL calculation on your SA return for 2016/2017?

Thanks (0)
14th May 2019 17:08

Unlikely to be a repayment for 2018/19, I would've thought.

As Wanderer says, far more likely to be for 2016/17 - or even earlier.

Nice to see that the Student Loan Company are taking a year to produce statements - how will they cope with MTD ?

Thanks (0)
avatar
to lionofludesch
14th May 2019 18:09

It’s not their fault that HMRC only pay them once a year (unless you specifically request an adhoc transfer).

Thanks (0)
avatar
to atleastisoundknowledgable...
14th May 2019 18:10

If only HMRC had a digital way of knowing how much SL had been deducted from employees each month.

Thanks (2)
avatar
By Jholm
to lionofludesch
15th May 2019 09:03

It does say "2017-18" and shows monthly repayments from April 2017 to March 2018. Then on 31st March it shows 'tax repayment from HMRC'. In fact, over two months I received two statements for the same period showing slightly different figures, both of which had different repayments.

Sounds like a phone call might be needed....

Thanks (0)
to Jholm
15th May 2019 09:15

Tell them that the bigger repayment is definitely correct.

Thanks (0)
Share this content