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C
Cookie3
April 26, 2023
Question

How can I refund a student loan payment in Quickbooks standard payroll?

  • April 26, 2023
  • 1 reply
  • 8 views
HMRC has sent notice to refund a student loan payment. I have amended the loan to No but it does not pull any refund. How do I get this on the next payslip?

1 reply

A
Ashleigh1
Level 14
April 26, 2023

 Hello Cookie3, Thanks for posting on the Community page, You can add a additional pay on the employee profile for the loan repayment/refund. Employee profile>actions>additional pay>+add on the top right. You can use reimbursement as this is non-taxable then just rename it. 

 

C
Cookie3Author
April 26, 2023

Thanks Ashleigh1 but that won't work as it will need to be deducted off the PAYE payment and reported in the RTI. Note this is a student loan not a loan.

A
Ashleigh1
Level 14
April 26, 2023

Hello Cookies3 so if you are wanting it to show on PAYE and RTI then it will have to be taxable as the first option I gave you was nontaxable. It would be a case of having a look at the different category options in the additional pay section and selecting one that is most suitable for you. If your still struggling we suggest you consult with an accountant on this. 

 

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