Student Loan Repayments for Healthcare and Medical Practitioners

Student Loan Repayments

If you are Self Employed, UK Student Loan repayments are calculated and paid though the UK Self Assessment process.

HMRC then inform the Student Loan Company of the repayments you have made.

The repayment amount depends on your Plan.

For Self Employed health practitioners, Student Loan repayments are part their UK Tax Return.

Tax Payments On Account

Student Loan repayments are not calculated as part of Tax Payments On Account.

This means that any Student Loan repayment is to be paid through the Self Assessment Tax Return system by 31st January each year, based on the Self Employment profits for the previous tax year ended 5th April.

Links

This is a link to the Student Loan Company (SLC):
Repaying your student loan

The document contains several references to Self Assessment and being Self Employed, particularly page 7.

Phone:
0845 250 0515
07986 381123
9:00 am to 6:00 pm
Fees:
For Self-Employed / Self Assessment,
typically £40 per month. Payable for 12 months concurrent with the tax year.

For new Self Employed practitioners, for the first tax year of business, £420 per year. Payable monthly concurrent with the tax year.

Limited Companies from £1,500 per year. Payable monthly concurrent with the company year.

Free easy bookkeeping software provided.

Terms and conditions apply, available on request.
About Us:

Paul Ainsworth BA ACA is a Chartered Accountant from a healthcare practice family.

Paul’s grandfather and uncles were Osteopaths and Naturopaths.

Dawn Ainsworth MSc BSc has a masters degree in food science and nutrition, and was Clinic Manager of a multi-disciplinary healthcare clinic for 10 years.

We understand the contractual arrangements, together with the accounting and tax implications for independent practitioners.

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