From 6eae40f38b709bc7d8caeca5e78415a34c6b09db Mon Sep 17 00:00:00 2001
From: Phil Lee
- If you have a student loan you will need to know what date you took it out. You can find this out on your <%= link_to "student loan account (opens in new tab)", "https://www.gov.uk/student-finance-register-login", class: "govuk-link", target: "_blank" %>.
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If you are currently paying off a student loan, a deduction from your additional payment will go towards repaying it.
- If you become or already are a higher rate taxpayer, any additional Income Tax and National Insurance contributions for this payment over the higher rate will remain your responsibility. The higher rate is currently earnings of £50,271 to £150,000, taxed rate 40%. + If you become or already are a higher rate taxpayer, any additional Income Tax and National Insurance contributions for this payment over the higher rate will remain your responsibility. The higher rate is currently earnings of £50,271 to £125,140, taxed rate 40%.
The Department for Education is not liable to reimburse tax at the higher rate.