Chesterfield Posted June 27, 2012 Share Posted June 27, 2012 An employer cant do anything to limit your payments. They have to make NI and PAYE payments to HMRC based on your tax code. They cant ignore your tax code or alter it to fudge the system. Both you and they, would be in line for a slapped wrist and fine. Unless of course they can just pay you by cheque, make you self employed and you do your own via self assesment each year.. Self assesment is really good fun. Ask them if you can do it . Plus once you are on it, you cant get off it. A bit like crack. You also get to make "payments on account" - which is really good fun, you get to pay 50% of last years tax "up front" for this tax year (or for the six months just gone, but earlier than you are required to pay your self assesment), so when you do the assesment at the end, you dont owe as much... Its really good fun. Go on, get on self assesment - you'll love it. Actually, dont. Quote Link to comment Share on other sites More sharing options...
Commander Posted June 27, 2012 Share Posted June 27, 2012 I had an update on this yesterday from my employer... they cant do anything to limit my repayments - so i'm gonna get a £950 deduction from my bonus next month. You're getting a £10,500 bonus? You have no grounds for complaining! Just pay the lot off with it and have done! Quote Link to comment Share on other sites More sharing options...
Ekona Posted June 27, 2012 Share Posted June 27, 2012 Sod paying it off early, as had been said it's an incredibly cheap loan, leave it alone and make the most of it Quote Link to comment Share on other sites More sharing options...
wizard Posted June 28, 2012 Share Posted June 28, 2012 Wow, I just had a lookey and still have quite a bit to pay back! lol Quote Link to comment Share on other sites More sharing options...
jumping350 Posted June 28, 2012 Share Posted June 28, 2012 i got sent my annual statement the other day and thats after five years of paying it so far! I spent my loan on my civic and i still got it, i look at my other mates and they have like 3 student accounts/credit cards and a loan and nothing to show and got so plastered they cant even remember uni anyway Im lucky i got a scholarship so when i reach half way they will pay the rest off but im still miles away from payng half... think logically pay it off now or supercharge Z? the latter for me please Quote Link to comment Share on other sites More sharing options...
wizard Posted June 28, 2012 Share Posted June 28, 2012 Im lucky i got a scholarship so when i reach half way they will pay the rest off but im still miles away from payng half... think logically pay it off now or supercharge Z? the latter for me please That's EXACTLY what i done, difference being, the thought of paying my student loan off never crossed my mind! LOL Quote Link to comment Share on other sites More sharing options...
Commander Posted June 28, 2012 Share Posted June 28, 2012 Wow, I just had a lookey and still have quite a bit to pay back! lol I feel sorry for the kids these days (lol, says me, at 28), took me long enough to pay off my loan, now they're racking up 9k / year! Hopefully those that were looking at doing "French History during the 1400s" or something simiarly useful for their career, will have the common sense not to! Quote Link to comment Share on other sites More sharing options...
wizard Posted June 28, 2012 Share Posted June 28, 2012 Wow, I just had a lookey and still have quite a bit to pay back! lol I feel sorry for the kids these days (lol, says me, at 28), took me long enough to pay off my loan, now they're racking up 9k / year! Hopefully those that were looking at doing "French History during the 1400s" or something simiarly useful for their career, will have the common sense not to! So what, they end up doing media studies and saving a planet as a result?! LOL To be fair, imo, this only affects your 'average' student. Some of the rich oxbridge students can still do whatever the f**k they want to do and will come out the other end with a high paid job. It's all connections and who you know nowadays. Quote Link to comment Share on other sites More sharing options...
Commander Posted June 28, 2012 Share Posted June 28, 2012 It's all connections and who you know nowadays. +1. Pretty sure all my degree did was get me my first interview, and that was mostly luck. At the risk off going in hind sight I'd have been (and I'm sure lots of other people would be, bar Vets, Doctors, etc) better off doing some industry-specific qualifications for 1/3 the money in just a few months (Did BSc Hons Computer Science, now design Wireless networks & Security stuff for a living). That said, the vast amounts of beer drinking, women, and getting paid to learn how to fly with the RAF during my holidays does make me not regret the debt too much Quote Link to comment Share on other sites More sharing options...
Chris`I Posted June 28, 2012 Share Posted June 28, 2012 You also get to make "payments on account" - which is really good fun, you get to pay 50% of last years tax "up front" for this tax year (or for the six months just gone, but earlier than you are required to pay your self assesment), so when you do the assesment at the end, you dont owe as much... Its really good fun. Go on, get on self assesment - you'll love it. I have the fun of this now overhanging me from contracting. This year is the first full year I've been on PAYE and waiting to hear back if I can stop paying on account as I'm back under the limit. I'm just waiting for them to say "oh just pay it and we'll return it back to you again" - yeah cos I have £10k just sitting there doing nothing for them to have Quote Link to comment Share on other sites More sharing options...
sasha@lazytrips Posted June 28, 2012 Share Posted June 28, 2012 Wow, I just had a lookey and still have quite a bit to pay back! lol I feel sorry for the kids these days (lol, says me, at 28), took me long enough to pay off my loan, now they're racking up 9k / year! Hopefully those that were looking at doing "French History during the 1400s" or something simiarly useful for their career, will have the common sense not to! So what, they end up doing media studies and saving a planet as a result?! LOL To be fair, imo, this only affects your 'average' student. Some of the rich oxbridge students can still do whatever the f**k they want to do and will come out the other end with a high paid job. It's all connections and who you know nowadays. 1. I went to Oxford 2. I am not rich 3. I had no connections of any kind to use to get my first job 4. I can assure you that every person I went to university with was incredibly intelligent and did not go there because they were "rich" or "had connections" 5. Compared to a number of other universities around the country, there wasn't a single course on offer at Oxford that I could even remotely consider to be a mickey mouse subject Quote Link to comment Share on other sites More sharing options...
wizard Posted June 30, 2012 Share Posted June 30, 2012 Wow, I just had a lookey and still have quite a bit to pay back! lol I feel sorry for the kids these days (lol, says me, at 28), took me long enough to pay off my loan, now they're racking up 9k / year! Hopefully those that were looking at doing "French History during the 1400s" or something simiarly useful for their career, will have the common sense not to! So what, they end up doing media studies and saving a planet as a result?! LOL To be fair, imo, this only affects your 'average' student. Some of the rich oxbridge students can still do whatever the f**k they want to do and will come out the other end with a high paid job. It's all connections and who you know nowadays. 1. I went to Oxford 2. I am not rich 3. I had no connections of any kind to use to get my first job 4. I can assure you that every person I went to university with was incredibly intelligent and did not go there because they were "rich" or "had connections" 5. Compared to a number of other universities around the country, there wasn't a single course on offer at Oxford that I could even remotely consider to be a mickey mouse subject No-one that goes to Oxbridge is unintelligent. I think you misunderstood my point. I know plenty of people that work in the city that have got there not with their brains, but people they know. I should not have put the rich and oxbridge in the same sentence, but my point on having a network still stands. It's worth more then brains unfortunately. Quote Link to comment Share on other sites More sharing options...
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