Student Loan repayments

This section is accessed via the data input tab within the tax return and is used to indicate that the tax payer is eligible to make Student Loan repayments. Taxfiler will calculate the repayments due and will ensure that repayments are only included in the tax computation if the income is above the statutory repayment threshold for the tax year. Taxfiler will also take into account any unearned income.

Student loan repayments

  • Liable to repay under graduate student loan? This tick box has been added in from 2020, tick this box in order for Taxfiler to calculate a student loan repayment, the taxpayer should have received a letter notifying them that repayments should begin
  • Repayment plan‘ select either plan 1 or plan 2 from the drop down list. For further information refer to HMRC guide. The examples in this guide calculate the repayments due on a weekly/monthly basis, the calculations on the tax return are based on an annual threshold, and calculated annually.
  • Repayments due to begin before end of tax year‘ Tick this box to indicate that repayments are due, the taxpayer should have received a letter notifying them that repayments should begin, this tick box has been removed from 2020.
  • Repayments deducted by employer’ Enter any student loan amount that has been deducted by the employer, you can find this information on the taxpayer’s P60.
  • Loan likely to be fully repaid within next two years?‘ Tick the box if the loan is likely to be repaid within the next two years. This tick box has been removed from 2020.

Post graduate student loan repayments

This section has been added from 2020.

  • Liable to repay post graduate loan? Tick this box in order for Taxfiler to calculate a post graduate loan repayment, the taxpayer should have received a letter notifying them that repayments should begin.
  • Post graduate loan repayment deducted amount, Enter any post graduate loan amount that has been deducted by the employer, you can find this information on the taxpayer’s P60.

Using income losses against capital gains

Firstly, please ensure that you are making the best use of the losses before proceeding. Select the Capital gains tab from the data input screen Click on the Disposals tab, and enter the relevant information Click on the Capital Losses tab, and enter the amount of loss that you wish to set off against the […]

Read More

Restricting access to clients

This feature is only available for multiuser accounts, it has been designed so that you can restrict user access for certain clients if required. Users with “edit client access” rights AND who have access to a client can assign or remove access rights via the Access tab on the client screen. The default is that […]

Read More

User restrictions within Taxfiler

This function is only available for a multiuser license. Some functions within Taxfiler can be restricted from a user. From the SETTINGS icon select Users and select the user that you wish to edit Select Restrictions tab You will be presented with several functions which can be selected or removed via a tick box. For […]

Read More