FAQs: forms questions and answers: where do I show SL deductions on the P45?
If an employee from whom you are making Student Loan Deductions leaves your employment enter a ‘Y’ in box 5 on the form P45. If you have received a Stop Notice for this employee do not enter ‘Y’ in the box ‘Enter Y if Student Loan deduction is due to be made’ (Box 5).
Note: Employers may think that they need to enter the actual amount of Student Loan Deductions made on the P45. Student Loan Deductions are non - cumulative so this information is not required until the End of Year return is made