Quizzes & Puzzles50 mins ago
New job - student loan
2 Answers
Does anyone know what happens to the repayments of your student loan when you move jobs?
At my previous job I was paying monthly repayments and it came off as a seperate payment of 'student loan', however I have a new job with the NHS and so far (after 2 pay's) it doesn't seem to come off. Tax, NI and my pension comes off but no student loan.
I thought it would automatically get transferred over to my new job, am i supposed to contact the SL company to give them the details fo my new job?
Thanks
At my previous job I was paying monthly repayments and it came off as a seperate payment of 'student loan', however I have a new job with the NHS and so far (after 2 pay's) it doesn't seem to come off. Tax, NI and my pension comes off but no student loan.
I thought it would automatically get transferred over to my new job, am i supposed to contact the SL company to give them the details fo my new job?
Thanks
Answers
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There is a marker on your P45 which tells the new employer to deduct Student Loan repayments.
If that marker wasn't correctly set, or if you didn't hand in a P45, Student Loan deductions may not start immediately. HMRC will eventually write to your employer with a Start Notice, telling them to start deducting Student Loan repayments.
If you didn't hand in a P45, you could ask your personnel department for a P46 form. Box D should be ticked to show that you are a Student-Loan repayer. However, the situation should sort itself out shortly, so there probably isn't anything to worry about.
There is a marker on your P45 which tells the new employer to deduct Student Loan repayments.
If that marker wasn't correctly set, or if you didn't hand in a P45, Student Loan deductions may not start immediately. HMRC will eventually write to your employer with a Start Notice, telling them to start deducting Student Loan repayments.
If you didn't hand in a P45, you could ask your personnel department for a P46 form. Box D should be ticked to show that you are a Student-Loan repayer. However, the situation should sort itself out shortly, so there probably isn't anything to worry about.
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