UK Pay: Is It Possible for an Employee to Have Student Loans with Both Plan1 And Plan2 Simultaneously? (Doc ID 2478043.1)

Last updated on MAY 31, 2024

Applies to:

Goal

Student Loan element does not have Multiple Entries flag checked. Therefore, multiple entries for this element type are not allowed.
But, as per HMRC instructions: https://www.gov.uk/repaying-your-student-loan/what-you-pay

If you have Plan1 and Plan2 Loans:

You pay back 9% of your income over the Plan 1 threshold (£352 a week or £1,527 a month).
If your income is under the Plan 2 threshold (£480 a week or £2,083 a month), your payments only go towards your Plan 1 loan.
If your income is over the Plan 2 threshold, your payments go towards both your loans.

Is it possible for an employee to have Student Loans with both Plan 1 And Plan 2 simultaneously?
 

Solution

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