Payments taken by IR but not given to SLC??

[WishfulThinker]

I have just had my SLC statement through and was shocked to see that I have apparently only paid £9 (!!!!!) for the last tax year, and so my interest is £80.

STRANGELY, my pay slip shows, and has shown since July 2007 that I am paying £26 a month for my student loan.

So where in the name of god is it going?? Nasty evil IR are keeping it!?

I am going to call the SLC tomorrow, and I hope that they work out the correct interest!

I am SERIOUSLY not impressed!!!!!!!!!!

[tiglet]

It could be a simple mistake - have you contacted IR?

[WishfulThinker]

Not yet. Only got the loan statement today. They cant be gettig any payments at all from my work tho. I havent had anything from IR tho, so they must be getting Tax & NI. So why is my loan not going through? All my details are the same - I did move jobs in July last year tho.

[tiglet]

Can often just be an admin error on behalf of work, SLC or HMRCS - I would check with work about the payments, then IR before going to the SLC - follow where the money has gone logically and it may help

[Sol]

Hi Wishfulthinker

This is a common problem with ICR payments, but nothing to worry about, trust me.

The way it works is the employer deduct the pymts and send this to the HMRC at the end of the financial year.

Sometimes the HMRC are late at sending the updated file to the SLC and so they won't know about your repayments. They update this as soon as they get it and amend the interest accordingly.

Hope that helps.