From April 2016 there will be 2 student loan plan types known as Plan 1 and Plan 2.

 

Each plan will have a different threshold before loan repayments are made.

 

For the tax year beginning 6 April 2016, the thresholds will be £17,495 for Plan 1 and £21,000 for Plan 2.

 

HMRC will tell us what plan to use for your existing employees already making Student Loan repayments.

 

For any new employees we will need to know the plan to use. You can use the link here to check this.