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Post Info TOPIC: Student Loan
Georgie


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Student Loan
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Hi,

I've had a student loan notice for a sole director of a limited company. As he isn't going to earn above the threshold as he is drawing a salary of £671.66 (plus dividends) would I still add the attachment in Moneysoft ?

Georgie



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Don Tax


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Pretty sure there's no deduction under the employee earnings threshold of around £17K.  * I've entered in Moneysoft and let it make the decision for me after entering the details. So if he gets a pay rise later on the deduction kicks in.

kind regards,
Tim

 

 

 

 

Edit: realised we're using same softare



-- Edited by Don Tax on Thursday 21st of May 2015 09:27:54 AM

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Cheshire


Master Book-keeper

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Hi Georgie
I would enter it - their pay is under the threshold now, but if they decide they want to take more out in wages (as one of mine has just done) then you dont have to remember to plug it in.

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Georgie


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Shouldn't I report in on their self assessment then otherwise he will never pay it back lol

Georgie

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