Student Loans

The Student Loans page is made up of Student Loan Information and Student Loan Plan.

Student Loan Information

Student loan repayments due Tick if your client has made, or is to make, student loan repayments in respect of earnings for the year.
Amount of student loan repayment deducted from earnings Any amount entered will reduce the Student loan repayments figure on Tax Computation and the amounts shown at boxes 1 and 3 on page TC1 of the tax return.
Student loan will be fully repaid within two years Tick to populate Student Loan repayments box 3 on page TR6 of the return.

To add additional information on the tax return about the student loan repayments, click the pencil icon Add Additional Information – Student Loan Information will open. Select one of the following fields from the drop-down box:

  • Student loan repayments due
  • Amount of student loan repayments deducted from earnings
  • Student loan will be fully repaid within the next two years

Enter the additional information in the text box below the drop-down and Save when complete.
Box 19 on page TR7 of the tax return will identify the box to which the chosen field relates and will show the additional information entered in the text box.

Student Loan Plan

Student Loan Plan is not relevant to the tax year 6 April 2015 – 5 April 2016 and is therefore not visible for that year.

From 6 April 2016, there are two types of student loan repayment plan.

Individuals either living in Northern Ireland or Scotland or who were EU students funded by Northern Ireland or Scotland will make repayments under Plan 1. If your client falls into this category, tick Resident of Northern Ireland or Scotland or EU student funded by Northern Ireland or Scotland, under Plan 1.

Individuals either living in England or Wales or EU students funded by either England or Wales will have their plan type determined by the date on which they started their course:

• If this date was before September 2012, then they will make repayments under Plan 1. If your client falls into this category, tick Resident of England or Wales or EU student funded by England or Wales and started course before 01/09/2012, under Plan 1.

• If they started on or after 1 September 2012, then they will make repayments under Plan 2. If your client falls into this category, tick Resident of England or Wales or EU student funded by England or Wales and started course on or after 01/09/2012.

It is important to identify the plan under which your client is making repayments, as a different repayments calculation applies to each plan type.
Under Plan 1, for the year 6 April 2016 to 5 April 2017, the repayment is calculated as 9% of relevant income in excess of £17,495.
Under Plan 2, for the year 6 April 2016 to 5 April 2017, the repayment is calculated as 9% of relevant income in excess of £21,000.

It is possible to make repayments under both Plan 1 and Plan 2. For this reason, you are able to tick a Plan 1 box as well as the Plan 2 box.

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