03 December 2024
HM Revenue and Customs’ (HMRC’s) software developer support team have confirmed the rates and thresholds for the 2025/26 student loans as well as the statutory payment rates, previously announced in the Department for Work and Pensions release.
The rates and thresholds are as below:
Student Loan Thresholds for 2025/26
|
Plan type |
2025/26 threshold |
Deduction rate |
|
Plan 1 |
£26,065 |
9% |
|
Plan 2 |
£28,470 |
9% |
|
Plan 4 |
£32,745 |
9% |
|
Postgraduate |
£21,000 |
6% |
Statutory Payment Rates for 2025/26
|
Payment type |
2025/26 rate |
|
SMP – weekly rate in the first 6 weeks |
90% of the employee’s average weekly earnings |
|
SMP weekly rate for the remaining weeks |
£187.18 or 90% of the employee’s average weekly earnings, whichever is lower |
|
SPP |
£187.18 or 90% of the employee’s average weekly earnings, whichever is lower |
|
SAP – weekly rate in the first 6 weeks |
90% of the employee’s average weekly earnings |
|
SAP weekly rate for the remaining weeks |
£187.18 or 90% of the employee’s average weekly earnings, whichever is lower |
|
ShPP |
£187.18 or 90% of the employee’s average weekly earnings, whichever is lower |
|
SPBP |
£187.18 or 90% of the employee’s average weekly earnings, whichever is lower |
|
SNCP |
£187.18 or 90% of the employee’s average weekly earnings, whichever is lower |
|
SSP |
£118.75 |
A table to breakdown the daily payment for SSP is also provided which you may find useful:
|
Unrounded daily rates |
Qualifying days in week |
1 day to pay |
2 days to pay |
3 days to pay |
4 days to pay |
5 days to pay |
6 days to pay |
7 days to pay |
|
£16.9642 |
7 |
£16.97 |
£33.93 |
£50.90 |
£67.86 |
£84.83 |
£101.79 |
£118.75 |
|
£19.7916 |
6 |
£19.80 |
£39.59 |
£59.38 |
£79.17 |
£98.96 |
£118.75 |
|
|
£23.75 |
5 |
£23.75 |
£47.50 |
£71.25 |
£95.00 |
£118.75 |
|
|
|
£29.6875 |
4 |
£29.69 |
£59.38 |
£89.07 |
£118.75 |
|
|
|
|
£39.5833 |
3 |
£39.59 |
£79.17 |
£118.75 |
|
|
|
|
|
£59.375 |
2 |
£59.38 |
£118.75 |
|
|
|
|
|
|
£118.75 |
1 |
£118.75 |
|
|
|
|
|
|
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information.