The Student Loans Company and HM Revenue and Customs (HMRC) have confirmed that the Postgraduate Loan (PGL) threshold for 2024-2025 tax year.
The annual thresholds and rates for PGL and for each of the Student Loan (SL) plan types are:
The Plan Type 1 annual threshold for 2024 to 2025 is £24,990.00
The deduction Rate is 9%
The Plan Type 2 annual threshold for 2024 to 2025 is £27,295.00
The deduction Rate is 9%
The Plan Type 4 annual threshold for 2024 to 2025 is £31,395.00
The deduction Rate is 9%
The PGL annual threshold for 2024 to 2025 is £21,000.00
The deduction Rate is 6%
PAYadvice.UK 5/2/2024