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HMRC internal manual

Collection of Student Loans Manual

HM Revenue & Customs
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FAQs: employers questions and answers: new employee: P45 with no 'Y' in the SL box - t/p is a borrower

Suggested answer

Do not make any Student Loan deductions, even though your employee has a Student Loan and may have been having repayments deducted by a previous employer.

If the employee is a borrower, a Start Notice will be issued to you when the first monthly Full Payment Summary (FPS) is processed. You should then start making deductions in accordance with the instructions on the Start Notice.

HMRC action

No specific action to take.