Amin & Co Accountants Manchester

The new student loan plan type and postgraduate loan thresholds and rates have been announced by the Department for Education. The thresholds from 6 April 2026 are:   Plan 1 — £26,900 Plan 2 — £29,385 Plan 4 — £33,795 Plan 5 — £25,000 postgraduate loan — £21,000 Deductions rates from 6 April 2026 for:  Plan type 1, 2, 4 and 5 remain at 9% for any earnings above the respective thresholds postgraduate loans remain at 6% for any earnings above the threshold Changes to the studen

The tax return for the 2024–25  tax year is now due. You still have time to submit it online by 31 January 2026 . Filing early is strongly recommended — it helps you: ✅ Avoid last-minute stress ✅ Identify any potential tax savings ✅ Plan and manage payments more efficiently ✅ Ensure accuracy and avoid HMRC enquiries 🔔  Important: If you fail to file  your return or do not pay  the tax due by the deadline, HMRC will automatically issue a £100 penalty , even if no tax is owed

Frozen tax thresholds & “stealth” rise The government will freeze the thresholds for income tax and National Insurance until April 2031. Because wages tend to rise over time, freezing thresholds effectively pushes more people into higher tax bands (“fiscal drag”). According to official forecasts, by 2029-30 this change alone will raise around £8 billion for the Treasury. Total new tax-raising measures announced amount to about £26 billion per year by 2029-30. New tax on expe