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HMRC has issued details of the latest Advisory Fuel Rates for Company Cars which apply from 1 September 2018. For one month from the date of change, employers may use either the previous or new current rates, as they choose. Employers may therefore make or require supplementary payments if they so wish but are under no obligation to do either. The new rates are below (previous rate in brackets where there is a change):  Hybrid cars are treated as either petrol or diesel cars for this purpose.
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The Department for Education (DfE) has confirmed the annual updates to the Interest Rates and Thresholds of Income Contingent Student Loans.
The current threshold for 2018-19 for Plan 1 is £18,330 and the DfE have confirmed that from 6 April 2019 the threshold will rise to £18,935 for Plan 1. Earnings above £18,935 will be calculated at 9%. The current threshold for 2018-19 for Plan 2 is £25,000 and the DfE have confirmed that from 6 April 2019 the threshold for post 2012 loans will rise to £25,725 for Plan 2. Earnings above £25,725 will be calculated at 9%. The DfE has introduced a new loan type from 6 April 2019, Postgraduate Loan (PGL). The threshold for 2019/20 is £21,000. Earnings above £21,000 for PGL will be calculated at 6%. |
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February 2020
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