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How to calculate your student loan deductions

If you are self employed, you will be required to complete a tax return to tell HMRC about your profits and expenses. This will determine your tax, National Insurance and student loan repayments for the year.

You are liable for making these repayments even if you also make additional voluntary repayments directly to the Student Loans Company. The Student Loans Company are unable to refund voluntary repayments.

If you have any questions about your Self Assessment deductions, your local tax office will be able to assist you.

• Contact your local tax office Opens new window

If you are subject to both Pay As You Earn (PAYE) and Self Assessment

If you are self employed but also work as an employee, are subject to tax at a higher rate or have unearned income from stocks, shares and savings or other sources, you will be required to calculate any student loan repayments due through Self Assessment in addition to any repayments which are deducted through PAYE.

• Repaying student loans through PAYE

If you move from Self Assessment to PAYE

If you are self employed but then begin work as an employee, you will be billed for the entire year by HMRC.

When repayments are due to end

If you would like to estimate when you will finish repaying your student loans, particularly if your annual statement indicates that it is likely to be in the current financial year, the Student Loans Company can predict when you are expected to complete repayment. If you write to them enclosing your relevant tax records, the calculation will be made for you.

• Finding out your student loan balance

If you think you have repaid in full

If you think you are close to fully repaying your loan, contact the Student Loans Company to confirm a final settlement.

• Repaying student loans more quickly and getting refunds

More useful links

• Contact the Student Loans Company about repayments

• Download guide to collection of Student Loan repayments through Self Assessment (PDF, 69K)

• Help with PDF files

• Self Assessment - your tax return (money, tax and benefits section)