How do I set up student loans?
A button for student loans has been added to the tax and NI card
in the employee's record. To start deducting a student loan from an
employee, click on the student loan button. There are two ways in
which you can start to deduct a student loan:
- If you get a start or stop notice from HMRC, complete the Start
Date and End Date fields. The loan will then be deducted
automatically during any payroll run between these dates
- If an employee gives you a P45 that tells you that he/she
already has a student loan in operation tick Continue Student
Loan?
Please note: student loans will
not be deducted if the employee's earnings are below the Student
Loan Threshold which is currently £15,000.
Do I need to set up a payment for student loans?
No, there is a student loans section in the employee's record
card. Go to the Tax/NI tab and enter the details here.
Will student loans appear on my year-to-date summary?
Student loans will appear on the latest versions of the
year-to-date summary.
Just re-select from the library.