I have to fill in a tax return. How do Self Assessment Plan 2 student loan repayments work?
Not everyone has to fill in a tax return each year. Common examples of when you do need to fill in one are: if you are self-employed, pay higher rates of tax, or have some other source of income which is not taxed before you receive it – for example, you rent out a property.
The collection of student loans also comes into the Self Assessment system. If you are required to complete a tax return, the form and the calculation also take into account your student loan repayments. You can read who is required to complete a tax return on GOV.UK.
This page is for those with Plan 2 income-contingent student loans, there are separate pages for Plan 1 and postgraduate student loans. You should contact the SLC if you are unsure which type of loan you have.
If you have gone to work abroad and are not in the UK tax system, you will need to make a payment arrangement direct with the SLC.
We look at below:
- Do I have to fill in a tax return just because I have a student loan?
- How are student loan repayments calculated under Self Assessment?
- How does ‘unearned income’ affect repayments?
- What information about my student loan do I need to fill in my tax return?
- On what date are student loan repayments due under Self Assessment?
- Are any repayments I have made direct to the SLC taken off my Self Assessment bill?
- My tax return says I have to pay back more on my student loan than I still owe. What do I do?
- How does budgeting for my Self Assessment tax affect student loan repayments?