From 6 April 2019, Postgraduate Loans are due for repayment through the PAYE process.
The employer is responsible for:
Once an employee's income goes over the relevant threshold, the employer will deduct 6% of their income that's over the threshold towards repaying their loan.
To access this utility, simply go to ‘Employees’ and select the employee’s name on the left:
1) Click on the Tax/ NICs/RTI heading
2) Select the drop down arrow for 'Postgraduate Loan' and choose Deduct Postgraduate Loan repayments
3) Enter a start date and stop date, if known
4) Click Save Changes
The payroll software will now automatically calculate and apply the appropriate postgraduate loan deduction as per the current Postgraduate Loan Deduction Tables.
A quick-edit facility for postgraduate loan deductions can also be found in ‘Payroll’:
1) Select the employee’s name from the listing
2) Click Edit Settings at the top right of the employee's payslip
3) Within Tax/NIC Details, select the drop down arrow for 'Postgraduate Loan' and choose Deduct Postgraduate Loan repayments
4) Enter a start date and stop date, if known
5) Click Save
Need help? Support is available at 0345 9390019 or email@example.com.