Student Loan system overhaul to benefit millions of graduates

April 2020 sees the third consecutive annual increase in the repayment threshold to £26,575 (for plan type 2 loans). The older Plan type 1 threshold rises to £19,390.Under the student loan s plan, borrowers contribute an amount based on their income once they reach the relevant salary threshold. A new online repayment service will go … Continue reading Student Loan system overhaul to benefit millions of graduates

National Living Wage to hit 60 per cent target in April 2020 – GOV.UK

Announced Tuesday 31st December 2019 and applicable for pay periods commencing on or after 1st April 2020:- Nearly 3 million workers are set to benefit from the increases to the NLW and minimum wage rates for younger workers, according to estimates from the independent Low Pay Commission. The rise means Government is on track to … Continue reading National Living Wage to hit 60 per cent target in April 2020 – GOV.UK

December 2019 Queens Speech – reaffirms NIC and NLW proposals

The Queens gracious speech on 19th December 2019 set out the new government proposals. Some are relevant to payroll and employment. Exiting the European Union 'My Government’s priority is to deliver the United Kingdom’s departure from the European Union on 31 January. My Ministers will bring forward legislation to ensure the United Kingdom’s exit on … Continue reading December 2019 Queens Speech – reaffirms NIC and NLW proposals