Student Loans
Student loans are part of a Government's financial support package for Students carrying out a course of higher education in the United Kingdom, enabling them to meet their expenses.
From April 6 2000, legislation came into force requiring employers to deduct student loan repayments from employees who become liable to repay their loan, along with deductions of tax and NIC. This will only apply to loans taken out after August 1998.
Each month, the deduction will be shown on the payslip. The amount deducted is paid over to Inland Revenue along with the Tax and NI due for the same pay period.
Employers must continue to make deductions each pay day until the total has been reached, the employee leaves or a stop notice SL2 has been received.
CompuPAYE customer help-line service will give you the most up to-date information on current payroll legislation including statutory sick pay and maternity pay. Using our service allows you to benefit from our experience in the latest legislation. Our staff are always ready to assist with any enquiry and our general support pages gives you 24 hour on-line support. If you are a registered client, you can visit our clients support page
