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Overcharging of graduates to stop
15 December 2017
Graduates will no longer be overcharged when they repay their student loans now that the tax authorities have agreed to share their data with the company that oversees the loans.
Accounting firm RSM has been calling for a change for several years, highlighting the unfairness in the system, which results in tens of thousands of graduates having to continue repayments on student loans that have already bee cleared. RSM recently revealed that 86,000 graduates overpaid by an average of £592 each in 2015-16.
RSM’s George Bull said: “We have recently witnessed the rather unseemly spectacle of HMRC and the Student Loans Company publicly pointing the finger of blame at each other. We are delighted that there now appears to be the political will to knock heads together to ensure graduates are given a fair deal.”
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