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HMRC internal manual

Collection of Student Loans Manual

FAQs: borrowers questions and answers: I am self employed. how do I repay my loan?

Suggested answer

When you receive your SA return at the end of the year you should complete it in the normal way as regards to tax and NICs.

However, the return will also contain boxes to confirm that you are a Student Loans borrower and to enter the amount of repayments due.  From April 2017, the SA return will calculate the amount of student loans due based on your plan type - plan type 1 or plan type 2.  This information is provided to us by the Student Loans Company (SLC) and held on our HMRC systems. 

If you do not which plan type you should be repaying, contact SLC.

You will then make your payment along with the balancing payment for tax and NICs on orbefore 31 January following the end of the tax year.

HMRC action

None.