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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.

Refund Available!

Your Status: You've overpaid by £80 and are eligible for a refund

Amount: £80

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:£235
Actually paid:£315
Difference:+£80

Reconciliation Summary

What You Should Have Paid

Total annual income:£32,000
Plan 2 threshold:£29,385
Income above threshold:£2,615
UG liability (9.0%):£235
Total correct liability:£235

What You Actually Paid

Current Employer:£315
Total PAYE deductions:£315
+£80
Refund Available

Action Required

You've overpaid by £80 and are eligible for a refund

Steps to Take:

  1. Visit the Student Loans Company website
  2. Complete the online refund application
  3. Upload your P60/P45 documents
  4. Wait 4-6 weeks for processing
  5. Refund will be paid to your bank account

Documents Needed:

  • P60 from current employer
  • P45s from any previous employers
  • Bank account details
  • National Insurance number

Scenario Analysis

Part-Year Employment

Multiple Jobs Below Threshold

Mid-Year Job Change

Mixed Income Sources

Recommendations

  • Apply for refund as soon as possible - no time limit but better to claim promptly
  • 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.