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P60/P45 Year-End Student Loan Reconciliation Calculator

Check if you've overpaid or underpaid student loans this tax year. Identify refund opportunities and understand your annual position.

Payment Required

Your Status: You need to pay an additional £3

Amount: £3

Deadline: 31 January 2026

Year-End Reconciliation

Compare what you should have paid vs what was actually deducted via PAYE.

£
£

No other income sources added

Quick Summary

Total income:£32,000
Correct liability:£318
Actually paid:£315
Difference:-£3

Reconciliation Summary

What You Should Have Paid

Total annual income:£32,000
Plan 2 threshold:£28,470
Income above threshold:£3,530
UG liability (9.0%):£318
Total correct liability:£318

What You Actually Paid

Current Employer:£315
Total PAYE deductions:£315
-£3
Additional Payment Required

Action Required

You need to pay an additional £3

Steps to Take:

  1. Complete Self Assessment tax return (if required)
  2. Calculate total tax and student loan liability
  3. Pay by 31 January deadline
  4. Or make voluntary payment directly to SLC

Documents Needed:

  • P60/P45 documents
  • Self Assessment records
  • Bank account for payment

Scenario Analysis

Part-Year Employment

Multiple Jobs Below Threshold

Mid-Year Job Change

Mixed Income Sources

Recommendations

  • Set up monthly savings for future years to avoid large annual bills
  • Check your student loan balance regularly through your SLC online account

Understanding Year-End Reconciliation

Common Overpayment Causes

  • • Part-year employment with monthly PAYE calculations
  • • Changed jobs mid-year with overlapping deductions
  • • PAYE calculated as if earning that amount all year
  • • Multiple jobs with individual deductions
  • • Salary reduction during the year

Common Underpayment Causes

  • • Multiple jobs each below threshold individually
  • • Self-employment income not covered by PAYE
  • • Other income sources (property, dividends)
  • • Jobs that started with no P45 information
  • • HMRC notices not processed quickly

What To Do Next

If you've overpaid:

Apply for a refund through the SLC website. There's no time limit, but it's better to claim promptly. You'll need your P60/P45 documents and the process takes 4-6 weeks.

If you've underpaid:

You may need to complete Self Assessment if the underpayment is significant. Payment is due by 31 January. Alternatively, you can make voluntary payments directly to SLC.

For future years:

Keep SLC informed of employment changes, check payslips regularly, and consider the reconciliation calculator each year to avoid surprises.

Need to Claim a Refund or Make a Payment?

Use the official SLC website to apply for refunds or make additional payments. Keep your P60/P45 documents safe for verification.

Claim RefundStudent Loan Info