Help please
Gained a degree recently and obtained loans through student loan company the rules on repayments state plan 1 you have to earn more than £17495 per year before repayments start.
I receive an occupational pension and as not subject to national insurance contributions do not include loan repayments.
This year i found a job which required me to become self employed i earned 4000 in the last tax year and completed a self assessment form
Im now told by using a self assessment i must pay student loan back at 9% over earning of 17400 including my pension.
If i worked for an employer and paid through paye i would not have to pay student loan back unless over the 17495 limit including my pension income as well.
It appears unfair you can earn as little as 4000 year extra yet subject to your protected pension exposed to the full amount. Is this correct?
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