If your income has gone down
If your income has gone down since the year you gave details for, you may be able to provide details for the current tax year instead. This is called a current year income assessment.
You can still apply for a current year income assessment for the 2022 to 2023 academic year. You’ll need to prove your income from the previous tax year was at least 15% lower than the year you gave details for. Check if you’re eligible and how to apply.
Check you’re eligible for a current year income assessment
You will qualify for a current year income assessment for the 2023 to 2024 academic year if your expected household income is both:
at least 15% lower for the full current tax year compared to the year you gave details for
£58,291 or less for the full current tax year
The current tax year is 6 April 2023 to 5 April 2024.
You will have given details for 6 April 2021 to 5 April 2022.
The student must be on a course where their student finance is based on your household income.
If your household income is £58,291 or more a year but less than £70,040 a year, you may still qualify depending on the student’s circumstances. Check how you’re assessed and paid.
If your income was £25,000 or less
If your income was £25,000 or less for the year you gave details for, the student may be receiving the full amount they’re entitled to. You might still be able to apply for an assessment if the student needs it to get:
a bursary or scholarship from a university or college
How to apply for the 2023 to 2024 academic year
To apply, you must have already created an online account and given information about a previous tax year.
You then need to complete these 3 steps.
Fill in a current year income assessment form and send it to Student Finance England.
Keep your income details up to date during the year.
Confirm your actual income at the end of the tax year.
You cannot apply until the tax year you’re applying for has started.
Fill in a current year income assessment form
Fill in the current tax year income assessment form for 2023 to 2024 and send it to Student Finance England. You can send it through your online account, or print out the form and send it by post.
If you’re the parent of the student and your partner also lives in the household, you’ll both need to complete the form, even if only one income has changed.
This is because you’re assessed on household income from the same tax year.
When you’re estimating your income, include:
- working overtime or extra hours
- any maternity or paternity pay
- any casual work, shift work or contract work
- any pay rises, bonuses or redundancy pay
- income changes from changing jobs or returning to work
- income from self-employment
Student Finance England
PO Box 210
Keep your income details up to date
If your income changes during the year, fill in a new current tax year income assessment form for 2023 to 2024. Then send it to Student Finance England as soon as possible.
You’ll be reassessed and the amount of money your student is entitled to might go up or down. Student Finance England will contact the student directly to let them know.
If you do not keep your income details up to date your student may be overpaid. They’ll have to pay back any overpayment straight away.
Confirm your income at the end of the tax year
After the tax year finishes you must send evidence of what your actual income was for the year. You’ll usually be sent a form to fill in at the start of May.
If you’re self-employed
If you have not completed your tax return yet, fill in the form to ask to delay providing evidence until after the Self Assessment deadline (January the following year).
You still need to return evidence for any other employment, for example if you had a salaried job earlier in the year.
If your household income is different from what you estimated
How much your student is entitled to will change. If your actual income was:
- lower - your student might be entitled to more money
- higher - your student will have to repay any extra money they received
If you do not send in evidence your student will only be entitled to basic student finance. They’ll have to repay any extra money they got based on your income straight away.