Student Loan Calculation
Posted: Sun Jan 10, 2021 10:59 am
Hi.
Can someone help me out here regarding student loan deductions on my I&E
I queried it with my IP as the calculations don’t seem right but they told me it is.
Example payslip they used for my calculations
4 weekly gross pay £2707.52
Tax - £361.80
NI - £237.18
£109 student loan
£10.44 union fees
Net pay £1989 after student loans
IP has calculated this way
£2707.52
Tax - £361.80
Ni - £237.18
Net pay - £2108.54
Then added on the student loan of £109
and union fee £10.44 to my pay, then shown it as a deduction in my I&E.
My income on my income on I&E is there for showing as £2227.98 4 weekly?
Should Student loan and other deductions have been added back onto the net pay £1989. And not the £2108?
Can someone help me out here regarding student loan deductions on my I&E
I queried it with my IP as the calculations don’t seem right but they told me it is.
Example payslip they used for my calculations
4 weekly gross pay £2707.52
Tax - £361.80
NI - £237.18
£109 student loan
£10.44 union fees
Net pay £1989 after student loans
IP has calculated this way
£2707.52
Tax - £361.80
Ni - £237.18
Net pay - £2108.54
Then added on the student loan of £109
and union fee £10.44 to my pay, then shown it as a deduction in my I&E.
My income on my income on I&E is there for showing as £2227.98 4 weekly?
Should Student loan and other deductions have been added back onto the net pay £1989. And not the £2108?