The Book-keepers Forum (BKF)

Post Info TOPIC: Student Loan


Guru

Status: Offline
Posts: 1313
Date:
Student Loan


 

Hi all

Is there any way of finding out how much someone has had deducted for their student loan repayments, I am doing the accounts for someone who was employed for 9 months during 18/19 and then went self-employed, I have a copy of their P45 but all it has is the box ticked to say that the loans will continue, when I tick the box on Taxfiler for student loans it asks for me to enter the amount already deducted which I don't know, if I leave this blank it shows the full amount to be repaid which I do not want.

Never had a client with student loans before so not sure how to get this information, I don't think a P60 shows it either but maybe wrong.

Any help appreciated as always

Cheers



__________________

Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Senior Member

Status: Offline
Posts: 359
Date:

payslips

__________________

Caron



Master Book-keeper

Status: Offline
Posts: 3904
Date:

Hi Doug

I'm not sure if Casu's suggestion will show a cumulative total but that's the first port of call. If the client has all their payslips even better.

Two suggestions if no joy there

You could ring HMRC and ask them to send client the info

You could make a rough calculation based on their employed earnings, making a note that it's an estimate  It shouldn't be far out but you'll need to know whether it's plan 1 or 2

 



__________________

John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Guru

Status: Offline
Posts: 1313
Date:

 

Thanks Casu, thanks John

I will speak to her on Tuesday and see if she has her payslips, she does seem pretty organised so hopefully that works out, if not HMRC phone call it is.

Cheers



__________________

Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

Status: Offline
Posts: 8646
Date:

HMRC are hopeless when it comes to student loans. Often get it wrong and often feed duff info to the student loan company. Would always recommend folk keep their full payslips and check it to their annual student loan company statement (assuming they get the annual statement because that department is just as bad!!)

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Guru

Status: Offline
Posts: 1313
Date:

Cheshire wrote:

HMRC are hopeless when it comes to student loans. Often get it wrong and often feed duff info to the student loan company. Would always recommend folk keep their full payslips and check it to their annual student loan company statement (assuming they get the annual statement because that department is just as bad!!)


 Luckily the client had all her payslips so I just included the cumulative total for the year in Taxfiler

Cheers 



__________________

Doug

These are only my opinions of how I see things and therefore should not be taken as advice

Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About