Graduate Tax

[dakyras]

Ahh ok, I'll just keep paying slowly feels like ill jnever get it all paid off :|

[feral chile]

End of the day, I start back at Uni in Sept to do a course in Psychology (I am a qualified counsellor). I do not work within the remit of the NHS and don't get help with my fees. Quite rightly. Those branches that immediately help society (like NHS, Medicine, Nursing, Radiogaraphy, Opperating Theatre blah blah blha) get the help. Others like myself and teaching, management, Environmental Health, blah blah. Don't.

To me a degree is more than learning. It is about self actualistaion and self development, as well as independance. It is about exploring yourself really. Most people come out of Uni better for it, all gained from thier experiences.

So why should someone on minimum wage for the rest of their life, that would benefit from this experience, have to subsidise this.

I am really tired, and not making sense but I hope you realise were I may be coming from. (I will expand on this later )

Sorry if my reply to you sounded agressive. That was not my intent.

[smog]

I need to get in touch with them really - I owe the Student Loan Compant a fair bit of cash but diont recieve any letters and get no payments taken from my account each month despite earning above the threshold.

In my last job I signed no papers, informed them of nothing and they started taking payments automatically from my pay packet. Went self employed for a few years and now in current job and Ive heard nothing.

Its not like Im hard to find - I work for the Union at the Uni I graduated at

[oafc0000]

I need to get in touch with them really - I owe the Student Loan Compant a fair bit of cash but diont recieve any letters and get no payments taken from my account each month despite earning above the threshold.

In my last job I signed no papers, informed them of nothing and they started taking payments automatically from my pay packet. Went self employed for a few years and now in current job and Ive heard nothing.

Its not like Im hard to find - I work for the Union at the Uni I graduated at

Edited July 23, 2010 by oafc0000

[smog]

Not self employed anymore and back on a company payroll And made all payments correctly when I was! It was only 18 months 'subcontracting' myself out to help a mate set up a business.

[oafc0000]

Not self employed anymore and back on a company payroll And made all payments correctly when I was! It was only 18 months 'subcontracting' myself out to help a mate set up a business.

[smog]

Thought tax, student loan, nat insurance was all calculated when you hand in your tax return. The tax & nat insurance was but not the student loan. I think they have lost me

I know only too well about the interest but to be honest its such a big loan repayment that whenever they finally catch up it will be a pain in the arse. I'll not chase it up for now - False economy should be my middle name!

[feral chile]

You will only get done for it if you are unlucky enough to have a tax inspector take interest in you... which is unlikely for many reason... probably not worth worrying about although you would of incurred interest during that time,..,

Edited July 23, 2010 by feral chile

[Rufus Gwertigan]

Depends. The fact that HMRC are not collecting student loan repayments through PAYE suggests that the Self Assessment record is still live. Smog, did you enter your self employment cessation date on the last return you completed?

[smog]

Depends. The fact that HMRC are not collecting student loan repayments through PAYE suggests that the Self Assessment record is still live. Smog, did you enter your self employment cessation date on the last return you completed?

[feral chile]

yes yes and yes. 18 months self employed and all well and truly above board...

Edited July 24, 2010 by feral chile

[feral chile]

I thought that they collected through both PAYE and self assessment (if you do both)

[Rufus Gwertigan]

I'm not sure. It definitely gets collected through SA and since that automatically calculates how much student loan you should pay back, and includes it in with tax and NI, I don't think it takes any PAYE deductions except tax into account. So I wouldn't imagine you get it deducted through PAYE if you have a live SA record. But I'm not certain what happens.

[oafc0000]

I have been told that it does, as long as you are earning above the threashold on each. Obviously PAYE is different as that takes deductions on if you hit the threashold for that month etc, rather than SA which is yearly. As far as I know if you overpay it is up to yourself to claim the overpayment back though Student Loans.

[Rufus Gwertigan]

Pretty sure overpayments are not refunded...

[feral chile]

I have been told that it does, as long as you are earning above the threashold on each. Obviously PAYE is different as that takes deductions on if you hit the threashold for that month etc, rather than SA which is yearly. As far as I know if you overpay it is up to yourself to claim the overpayment back though Student Loans.

[oafc0000]

Yes they are, happened to me last year.

[Rufus Gwertigan]

Oh I didn't realise that. That seems a bit harsh - you'd think they'd be able to work out how much additional loan repayment to collect through SA. It wouldn't show up as part of tax deducted on the P60, would it? HMRC are big on 'collecting the right amount of tax at the right time' so shouldn't be condoning overpayments. But then again, it's not tax is it?

I'm curious now.