Regulation 41 Amendments to regulation 44 (amount of repayments)I1

England and Wales

(1)

In regulation 44(1)—

(a)

in sub-paragraph (a), for “student loan” substitute “plan 1, 2, 4, or 5 loan”;

(b)

in sub-paragraph (b), for “postgraduate degree loan” substitute “plan 3 loan”.

(2)

In regulation 44(2A)—

(a)

for “(1)” substitute “(1)(b)”;

(b)

for “due—” to the end substitute “under paragraph (1)(a)”.

(3)

For regulation 44(6) substitute—

“(6)
The default threshold applies—
(a)
if, in relation to a plan 1, 2, 4 or 5 loan, the borrower fails to comply with regulation 43 (which relates to repayments liability), and
(b)
until the date specified by HMRC in a notice given to the borrower’s employer under regulation 49(1).”.

(4)

For regulation 44(7) substitute—

“(7)
The default threshold is whichever repayment threshold for a plan 1, 2, 4 or 5 loan is the lowest repayment threshold.”

Annotations

Commencement

I1: Reg. 41 in force at 6.4.2023, see reg. 2(2)