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HMRC Updates
Income Tax: Personal allowance frozen at £12,570 CGT: Annual exempt amount is £3,000 NICs: Main Class 1 Employee NI rate reduced VAT: MTD system requirements fully enforced SDLT: First-time buyer relief threshold £425,000 Corporation Tax: Main rate 25% for profits over £250k IHT: Nil-rate band frozen at £325,000 Pension: Annual allowance set at £60,000
Estimated calculation • • uktaxhero.com
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Important: Illustrative estimates based on HMRC published rates. Actual liabilities vary. Find a Tax Expert →
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📅 Tax Year

🏫 Loan Details

£

How This Calculator Works

🏫 All 5 Plans

Covers Plans 1, 2, 4 (Scotland), 5 and Postgraduate loans with correct thresholds for each tax year.

💰 HMRC Floor Rounding

Uses HMRC floor rounding (rounds down) for accurate repayment figures matching your payslip.

📅 Year-by-Year Thresholds

Thresholds change each September. This calculator uses the correct threshold for the tax year selected.

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Frequently Asked Questions

How does student loan repayment work?

You repay a percentage of your income above the threshold: 9% for Plans 1,2,4,5 and 6% for Postgraduate. Repayments stop automatically when below the threshold or when the loan is cleared.

What is the Plan 5 threshold?

Plan 5 (for English students starting from August 2023) has a £25,000 threshold, a longer repayment period (40 years), and uses the lower repayment rate of 9%.