The Student Loans Company automatically receive details of the Student Loan amount calculated on the SA return and set this against the borrower’s Student Loan account. If the amount exceeds the amount outstanding it will result in an overpayment. The Student Loans Company will not repay this direct to the borrower but will forward the overpaid amount to HMRC to credit the borrower’s SA statement.
Action by Student Loans Company
The Student Loans Company will
Action by East Kilbride Student Loans Unit
On receipt of the cheque (from the Student Loans Company) East Kilbride Student Loans Unit will
Note: On the payslip show an Effective Date of Payment (EDP) of 31 January in respect of the original year the SA Student Loan payment was due
Action in the Local Office
The local office will use SA Function MAINTAIN SA NOTES to update the borrower’s record with the following details
The credit will appear on the SA statement but will not be
identified as referring to Student Loans. SA Function MAINTAIN SA
NOTES should confirm this is the case.
The Student Loan payment will remain on the SA statement until the borrower contacts HMRC to request repayment if required.
Note: If the borrower is aware that the calculated figure for Student Loans on the SA return is greater than the amount outstanding on his Student Loans account he may wish to pay the outstanding Student Loan amount. If he notifies HMRC an informal stand-over can be set on the SA record and the case put on BF. When the repayment is credited to the SA statement the informal stand-over can be cancelled.