[CSLM2030] CSLM2030 – About CSL: overview of student loans: role of employer
It is the employers' role to
•Start and cease deduction of Student Loan and or Postgraduate Loan (PGL) repayments following the receipt of Start Notices and Stop Notices from HMRC, when a form P45 is received with a ‘Y’ in the SL box or when the employee tells the employer he or she is in the process of repaying an Income Contingent Repayment loan.
•Update their payroll software so that it will calculate the weekly or monthly amount of Student Loan and or PGL repayments
•Deduct the Student Loan and or PGL repayments from the borrower's pay using the correct Loan or Plan Type – PGL and or Plan 1 or Plan 2 or Plan 4.