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A client’s 2011 self-assessment tax return was completed on the basis that a student loan had been repaid in full. This was incorrect, although the loan has since been repaid. HMRC are demanding full payment and a 15% penalty
My client made a very large payment to the Student Loans Company in 2009 and believed that her loan had been repaid in full. Consequently her 2011 tax return was submitted without the student loan box being ticked.
In the middle of 2012 she realised that the loan had not been repaid in full and that £3 000 was still outstanding. At that point she forwarded payment to clear the balance plus interest.
HMRC have written to us in respect of the 2011 tax return stating that the return was incorrect and that in line with her income for that year a student loan repayment in the sum of £10 700 was due. We have pointed out that the loan has now been repaid in full and at any rate as at 31 January 2012 the sum outstanding was only £3 000.
...Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
