By putting an X in the box a verification process will take place between HMRC and the Student Loan Company (SLC) which will have three possible outcomes, full details are available within the CSL1 .
This third box is not to be included on the SA200 short return. Borrowers who wish to use this procedure will need to contact HMRC to request an SA100 tax return
Collection of Student Loans forum – Your views wanted
5 September 2013
Yesterday the CIPP policy team attended the Collection of Student Loans consultation forum. As well as a range of stakeholders, this meeting is attending by representatives from HMRC, the Student Loans Company and the Department for Business, Innovation and Skills (BIS). This meeting is always informative, but there were several requests for your suggestions, ideas and comments made at yesterday’s meeting. 1. As many of you will be aware, from April 2016 there will be two different repayment plans for students to repay their student loans, depending on where and when the student first began their studies. This means there will be two different thresholds in place, depending on which type of repayment plan applies to that particular debt. From that time, if an employee tells you they are repaying a student loan; HMRC will tell you which threshold applies to that individual. But it is entirely possible that the employee will have two student loans to repay, one under Plan 1 and one under Plan 2. Again, HMRC will tell you what you need to do. However, it may be that during a financial year, the employee completes the repayments for Plan 1, but repayments for Plan 2 would need to continue. Under the current arrangements you would receive a Stop Notice for Plan 1 and then a Start Notice for Plan 2. BIS are suggesting that this system is revised and you would receive instead an amended notice which merges both the Start and Stop Notice into one document. BIS are keen to hear your views on whether you think this is a good idea or not and the reasons why. 2. HMRC are interested in your views on whether notices should be issued electronically by default. At the moment you have a choice whether to receive student loan notifications electronically or on paper. As less and less communications are issued on paper HMRC would like to hear your views on whether all notices should be issued electronically, including any issues this would raise for you and any system enhancements you think would make this possible. To enable you to submit your views easily we have created a very short survey containing just these two questions. We would be very grateful, as would HMRC and BIS, if you could spare five minutes to complete this survey which closes on 17 September. 3. And finally, HMRC are now considering ways in which the collection of student loan process could be further improved during 2015-16. They are very keen to speak to employers and payroll bureaux face to face to find out exactly how the system impacts you. To this end, they would like to set up a round table meeting in the first week in October and are looking for volunteers from different sized companies and payroll bureaux in all sectors to discuss the issues, and possible solutions affecting collection of student loans. The location of the meeting is not yet known as it is dependent on the location of the volunteers. If you would like to attend this meeting please email policy@cipp.org.uk titling your email “student loan meeting”.
The policy team would like to thank you, in advance, for your help.
CIPP Policy News Journal
16/04/2014, Page 490 of 519
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