If you have a student loan and you work for salary or wages with PAYE deducted, you need to use a tax code with the “SL” repayment code (unless you have a special tax code or a repayment deduction exemption).
HOWEVER, if you receive income without tax deducted at
source, you need to ensure you are making repayments on your student loan at
the correct dates each year.
Are you an overseas-based borrower?
If you're an overseas-based borrower your
repayment obligation is based on your total loan balance at 31 March, plus the
annual administration fee. Your repayments are due in two equal instalments.The due dates for each repayment are generally 30 September and 31 March each year.
Need help keeping up with your student loan obligations?
Come and have a chat with us at Walsh & Associates.
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