How do I set up Student Loans?
There is a button for Student Loans on 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. This is currently £15,000.
