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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 7766
Experience:  FCCA FCMA CGMA ACIS
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I am employed only but I am a higher rate tax payer, as a

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I am employed only but I am a higher rate tax payer, as a result i obviously need to fill out a tax return. I repay student loans through my PAYE and this has now finished and I am paid up. Upon preparing my tax return my accountant has included my repayments on the return and it looks like I have to pay tax on the repayments? Is this correct or are they wrong?

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

 

All student loan repayments are, or should be, taken from your net income. Tax does not come into them at all.

Customer: replied 7 days ago.
this is how they have worked it out

I am of the opinion that they are in error.

Customer: replied 7 days ago.
so should i ask them to take out the student finance secton

That would be my advice. Student loan repayments come out of cash available to you post tax and NI deductions. In essence it comes out of your own pocket.

bigduckontax and 2 other Tax Specialists are ready to help you

Thank you for yur support.