If you take on a new nanny with a student loan to repay you’ll need to find out which repayment plan he or she has.
Plan 1 is for:
- English and Welsh students who started studying before 1 September 2012
- All Scottish and Northern Irish students
Repayments start when your nanny earns over £17,495. This amount changes on 6 April every year.
Plan 2 is for:
- English and Welsh students who started their studies on or after 1 September 2012.
They start repaying when they earn over £21,000.
From March 2016 the SL1 start notice issued by HMRC will show which student loan plan type you should make deductions against.
You’ll need to ask new nannies which Plan they have when they fill out a new starter form.