student loan payback

[_Deano]

When i was PAYE a small payment would come out of my wage to payback the student loan i had/still have. But i've now packed in the PAYE system and i'm now self employed by being a contractor.
Does the student loan still need to be paid back, if so how is this now calculated?
Oh and if there are any loop holes pm me

thanks
dj

[tigger1]

I think you have to pay it to HMRC at the end of the year, at the same rate as previously (? 9% of eveything over 15k / yr)..BUT, I don't know for sure.

[Eric Mc]

Are you operating as a sole trader?

[_Deano]

Eric Mc said:

Are you operating as a sole trader?

As a limited company.

[JustinP1]

_Deano said:

Eric Mc said:

Are you operating as a sole trader?

As a limited company.

I graduted in the last year of the old system. What happens with me is that they send a form each year if you want to defer. You need to provide payslips OR a letter from your companies payroll department showing how much your earn.

In the first couple of years I needed to defer I got one of my staff to sign the letter confirming my salary and they never batted an eyelid. After that I ended up signing the letters myself as MD which had exactly the same effect!

Now... I did this as my salary was less than the £19k or so and I was allowed to defer... But they made no checks (that I know of) either way.

I now just pay it each month as it was £50 and I couldnt be bothered messing around!

[Eric Mc]

Deano

How are you remunerating yourself?

Salary?

Dividend?

Combination of Both?

[Seany88]

tigger1 said:

I think you have to pay it to HMRC at the end of the year, at the same rate as previously (? 9% of eveything over 15k / yr)..BUT, I don't know for sure.

Tis 9%. To jump in here, is there a way of increasing the repayments? As i understand it comes out of gross income but if you want to overpay it'll come out of net income and if so, i cba