Anyone got any idea how to deal with student loan payments? I'm salaried and I will be taking dividends irregularly but I still have a student loan to pay (the thing is endless!).
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Student loan payments from Ltd company
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Originally posted by cswdAnyone got any idea how to deal with student loan payments? I'm salaried and I will be taking dividends irregularly but I still have a student loan to pay (the thing is endless!).Comment
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Student loans will only ask you to pay it back when you are earning the national average (about 15K I think).
As long as your SALARY is below that then you dont have to pay them back.
HTH.I am not qualified to give the above advice!
The original point and click interface by
Smith and Wesson.
Step back, have a think and adjust my own own attitude from time to timeComment
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Originally posted by cswdI'm way above that for the minute - until I have enough profit to draw dividends!
It is only the salary that matters your other sources of income dont matter (a flaw in their rules I expect).I am not qualified to give the above advice!
The original point and click interface by
Smith and Wesson.
Step back, have a think and adjust my own own attitude from time to timeComment
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I too have a student loan to start repaying at some point but my accountant said 'wait and see what the IR send us'. Apparently they send out forms, etc with details of how to calculate, collect, and send the payments. If you haven't received anything from them then don't pay it and just continue as you are for the time being. You don't need to start repayments until the tax year following the end of your course.Comment
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Can I just confirm...do company dividen payments not count as income when it comes to working out student loan payments on self assessment?Comment
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Originally posted by anthonychippCan I just confirm...do company dividen payments not count as income when it comes to working out student loan payments on self assessment?
The SLC only states that your salary is less than UK average, they dont ask about other income.
You make the decisison.I am not qualified to give the above advice!
The original point and click interface by
Smith and Wesson.
Step back, have a think and adjust my own own attitude from time to timeComment
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