CSLM11261 | FAQs: borrowers questions and answers: I am self employed. how do I repay my loan?

Suggested answer

When you are completing your SA tax return at the end of the year you should complete it in the normal way with regards to tax and NICs.

However, the return will also contain boxes to confirm that you are a Student and or Postgraduate Loan borrower and to enter any deductions made through PAYE.

If you complete your tax return through Making Tax Digital (MTD), the student loan information above will be prepopulated onto your tax return (where applicable).

The SA tax return will calculate the amount of student loans due based on your plan and or loan type - plan type 1, 2, 4 or 5 and or postgraduate loan. This information is provided to us by the Student Loans Company (SLC) and is held on our HMRC systems.

If you do not know which plan type you should be repaying, you can access gov.uk website and log onto your online account to check.

You will then make your payment along with the balancing payment for tax and NICs on or before 31 January following the end of the tax year.

HMRC action

None.