Calculate your student loan balancing payment due via Self Assessment. Essential for self-employed individuals and those with multiple income sources.
Amount due: £678(£56 per month to budget)
Due date: 31 January 2027
Action required: Start budgeting now and consider voluntary SLC payments to reduce this bill.
Self Assessment combines ALL income sources against thresholds, while PAYE treats each job separately. This can create unexpected bills.
2012-2023 students (England/Wales)
All PAYE jobs combined (from P60s)
Net profits after expenses
Rental income after allowable expenses
Dividends, savings interest, investments
From P60 or payslips (annual total)
• Unearned income: All included if total over £2,000
• PAYE vs SA: SA combines all income sources
• Due date: 31 January following tax year
• Late payment: 5% penalty after 30 days
1.9% of total income
Payment is made alongside your income tax and NI balancing payment via Self Assessment.
Two part-time PAYE jobs below threshold:
Each job pays nothing via PAYE, but combined income triggers SA liability
PAYE job plus self-employment:
PAYE job may pay some repayments, but SE income increases total liability in SA
High unearned income:
Over £2,000 unearned income means all dividends/interest count toward student loan calculation
Unexpected student loan bills through Self Assessment can be substantial. Consider making voluntary payments throughout the year or adjusting your tax arrangements.