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student loan repayments

SystemSystem Posts: 8,619 Staff Moderation Team
how do they work the repayments out?

reason i ask is because at the moment, i don't earn more than £15,000 per year so shouldn't be paying anything. recently though, ive been doing a bit of overtime and they've been taking about £15 a week off me. my wage slip has been different every week as ive been working different hours. the overtime is only temporary so in april at the end of the tax year, i probably still won't have earnt £15,000. is there anything i can do to stop them taking payments until im earning enough? i really cannot afford it.

i start a new job in a few weeks time which pays much more (so i'll have to start repaying my student loan anyway as i'll then be earning enough) but my first wage packet won't come in until the end of march so that shouldn't really affect the whole thing.

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    It should be 9% on everything over £15,000 a year. So if you earn £20,000 a year you'd pay 95 on £5,000 so the repayments would be £450.

    I'm not sure why your having deductions taken off your overtime, might be worth asking the people that do you payroll why it happening. If they've been told by HMRC to take deductions and everythings been processed correctly, there is very little, if anything they can do to claim the payments back.
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