Student loan payments - taxed?
- Thread starter PaulStat
- Start date
Caporegime
- Joined
- 13 May 2003
- Posts
- 34,564
- Location
- Warwickshire
Your entire salary is taxed and you pay it from whatever's left, but it makes no difference whether they deduct it 'before or after taxing your salary', they're not taxed!
If you mean do I get income tax relief on my student loan repayments...apparently not.
If you mean do I get income tax relief on my student loan repayments...apparently not.
Last edited:
Not sure I understand part of your post?
If they take the loan payment before calculating the tax then the overall amount of tax you'll pay will be less.
Permabanned
- Joined
- 9 Oct 2009
- Posts
- 1,524
- Location
- To die by your side......
No, because even if they take it after, the tax calculation wouldn't have included the loan payment anyway.
Ah ok, that makes sense, wasn't sure if it was salary minus tax then minus loan or the way you said
Caporegime
- Joined
- 13 May 2003
- Posts
- 34,564
- Location
- Warwickshire
It's 9% of your gross wages over £1,250 so there's no tax relief.
http://listentotaxman.com
You pay the same amount of income tax with or without a student loan payment, which means you still pay income tax on the amount that ends up going to student loans (if the calculator is accurate), which I guess is to be expected, can't subsidise it too much
You pay the same amount of income tax with or without a student loan payment, which means you still pay income tax on the amount that ends up going to student loans (if the calculator is accurate), which I guess is to be expected, can't subsidise it too much
Soldato
- Joined
- 31 May 2009
- Posts
- 21,468