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.