Personal Tax (UK) | Add limit to student payment deductions
Personal tax returns. At present the systems calculates student loan repayments in line with the taxpayers income. It does not consider the amount of the loan outstanding. This will clearly give an incorrect return for the year in which the loan is repiad.
Suggestion: Pending a SLC link to establish the oustanding balance, could the dev team implement a 'limit student loan payments to' box for users (like me) to apply a manual override.
Stuart Dey
shared this idea
Hi Stuart
Thank you for creating this idea. Unfortunately providing the ability to override this amount will not create the ability to prevent overpayment. If the client is tagged as having student loan repayments due, HMRC will calculate the amount they believe is due based on the income in the return. If the manually edited figure did not meet HMRC expectations within £1, HMRC would reject the tax return. HMRC do not provide an ability anywhere in the filing package to indicate that the client is in their last years of payment.
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