![]() Record the amount of Student or Postgraduate Loan deduction on the employee’s payroll record. Multiply the result (the excess) by 6% (0.06), round down this figure to the nearest whole pound. £1,750.00 from monthly earnings for monthly paid employees.£403.84 from weekly earnings for weekly paid employees.£2,114.58 from monthly earnings for monthly paid employeesįor borrowers repaying a Postgraduate Loan - if earnings in the week or month exceed the highest amount of earnings shown in the tables you’ll need to deduct the ‘pay period threshold’ from total earnings in the week or month.£487.98 from weekly earnings for weekly paid employees.£2,274.58 from monthly earnings for monthly paid employeesįor Scottish borrowers repaying on Student Loan Plan 4 - if earnings in the week or month exceed the highest amount of earnings shown in the tables, you’ll need to deduct the ‘pay period threshold’ from the total earnings in the week or month.£524.90 from weekly earnings for weekly paid employees.Multiply the result (the excess) by 9% (0.09), round down this figure to the nearest whole pound.įor borrowers repaying on Student Loan Plan 2 - if earnings in the week or month exceed the highest amount of earnings shown in the tables, you’ll need to deduct the ‘pay period threshold’ from total earnings in the week or month. £1,682.91 from monthly earnings for monthly paid employees.£388.36 from weekly earnings for weekly paid employees. ![]() Earnings for week or month exceed highest amount of earnings shown in the tablesįor borrowers repaying on Student Loan Plan 1 - if earnings in the week or month exceed the highest amount of earnings shown in the tables you’ll need to deduct the ‘pay period threshold’ from total earnings in the week or month. If you need help using these tables phone the Employer Helpline. If the exact amount of earnings is not shown, look for the nearest figure below and use the amount of deduction shown for that range of earnings. Look up the amount of weekly or monthly earnings in the left hand column to find the corresponding deduction in the right hand column. ![]() Go to the table which corresponds to your employee’s loan or plan type. The figure to use is the same gross pay amount that you would use to calculate your employer’s secondary Class 1 National Insurance contributions. completed a starter declaration and ticked the student loan box indicating either the relevant plan or loan type, or bothīefore you can use these tables, you must work out the correct figure of employee earnings on which Student or Postgraduate Loan deductions are due. ![]() given you a form P45 with a ‘Y’ entry in box 5 ‘Student Loan deductions to continue’.told you they are repaying an Income Contingent student loan and either the relevant plan or loan type, or both.If you’re doing a manual calculation use the weekly or monthly tables below for existing employees for whom you’ve received either form SL1 ‘Student Loan Start Notice’ or form PGL1 ‘Postgraduate Loan Start Notice’ and for new employees who have: These tables should only be used to manually calculate Student or Postgraduate Loan deductions when you cannot or do not use either of the following: These tables incorporate thresholds for Student Loan Plan 1, Student Loan Plan 2 and Postgraduate Loan so manual calculations can be based on any of these loan types. ![]()
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