Student Finance England (SFE) does not directly provide P60s in the same way an employer does. A P60 is an annual statement from your employer showing your total earnings and the amount of tax and National Insurance you’ve paid during the tax year (April 6th to April 5th). Since your student loan repayments are deducted through the PAYE system, it’s a common misconception that SFE issues a P60.
The reality is that HMRC (Her Majesty’s Revenue and Customs), the UK’s tax authority, receives information about your student loan repayments directly from your employer through the PAYE system. Your employer’s P60 will show the total amount of student loan deductions made from your salary during the tax year, along with your taxable income and other deductions.
Therefore, if you need information about your student loan repayments for a specific tax year, you should refer to the P60 provided by your employer(s) for that year. You may have multiple P60s if you held more than one job during the tax year.
Specifically, look for the section labelled “Student Loan deductions” or similar. The amount shown there reflects the total student loan repayments made from your salary during that tax year. This amount is then reported to the Student Loans Company (SLC) by HMRC.
While SFE doesn’t issue P60s, you can access your repayment information online through your SLC account. This account allows you to view a breakdown of your repayments, including how much you’ve repaid in total, how much you’ve repaid in each tax year (though not detailed as on a P60), and your outstanding balance. To access your online account, you’ll need your SLC customer reference number and password. If you’ve forgotten your login details, you can usually reset them through the SLC website.
If you have any discrepancies between the student loan deductions shown on your P60(s) and the information on your SLC account, it’s crucial to contact both HMRC and the SLC to investigate. Discrepancies can occur due to delays in reporting or errors in the PAYE system. Providing both HMRC and the SLC with copies of your P60(s) will help them to resolve the issue quickly and accurately.
In summary, while SFE doesn’t send a P60, your employer’s P60 will detail your student loan repayments. You can track your repayments through your SLC account and should address any discrepancies with HMRC and SLC directly.