Student loan repayment thresholds revised

Amended thresholds. New earnings thresholds apply for student loan repayments for paydays on or after 6 April 2023. HMRC has published details of the new thresholds which are:

• Plan 1 loans: £22,015 (up from £20,195)

• Plan 2 loans: £27,295 (unchanged)

• Plan 4 loans: £27,660 (up from £25,375)

• Plan 5 loans £25,000 (this is a new type of student loan from 6 April 2023)

• postgraduate loan: £21,000 (unchanged).

For more information, contact us.