Scottish Student Loan - New Plan Type 4 | Moorepay

Payroll Legislation

Scottish Student Loan - New Plan Type 4

Legislation

Scottish Student Loan - New Plan Type 4

Date

Effective 6 April 2021

Summary

This will be for new and existing borrowers and the repayment period reduced from 35 years to 30 (in line with England & Wales).

This increase in threshold has created the need to introduce a new Scottish Student Loan Plan type.
On 6 April 2021, anyone who has taken a Student Loan from Scotland will repay under a new Plan type 4.

Employers will be notified of any plan type moves from Plans 1 to 4, using the current SL1/PGL1 notification process, in time for April 2021.

payroll legislation guide

Payroll Legislation Guide

Do you know the dates of all the complex payroll legislation changes? Are you aware of what you need to do to ensure your business is compliant? Many UK businesses aren’t aware…