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PGLs for employers
Newsletter issue - December 2018
The Department for Education has launched a new Student Loan product known as Postgraduate Loans (PGLs). From April 2019, individuals will be able to start loan repayments of this type through PAYE, so employers need to be aware of their new obligations.
Broadly, if an individual has a PGL:
- HMRC will send their employer a new Postgraduate start notice (PGL1) to ask them to start taking PGL deductions
- HMRC will send their employer a new Postgraduate stop notice (PGL2) to ask them to stop taking PGL deductions
- employers will collect payments through the normal PAYE process
- individuals may also be liable to repay a Student Loan Plan Type 1 or 2 concurrently with PGL. HMRC will let their employer know this by continuing to send the normal Student Loan start (SL1) and Student Loan stop (SL2) notices as well as PGL1s and PGL2s.
HMRC are currently working with software developers to finalise the technical specifications for PGL repayment and hope to publish further guidance in due course.
It is also worth noting here that the earliest individuals can start repayment of PGL via Self-Assessment is April 2020.
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
- Accounts and Taxation
- Accounts prepared on time and presented to you at your premises
- Income tax calculations and projections
- Annual superannuation certificates for Partners
- Practice manager training about bookkeeping
- 2 - 4 meetings in a year at your premises
- Personal expenses
- Payroll
- SD55 for practice staff
- Installation and training in respect of practice computerised accounting system
- Unlimited telephone and email support for adhoc queries
Non - recurrent Services
•VAT advice •Capital gains tax planning •Partnership agreements •Surgeries finances •Pension planning •Budget and cashflow planning •Inheritance Tax planning
Recurrent Annual Services based on fixed fee:
- Accounts and Taxation
- Accounts prepared on time and presented to you at your premises
- Income tax calculations for Principles and Associates
- Practice manager training about bookkeeping
- 2-4 meetings in a year at your premises
- Personal expenses
- Payroll
- SD55 for practice staff
- Installation and training in respect of practice computerised accounting system
- Unlimited telephone and email support for adhoc queries
Non - recurrent Services
- VAT advice
- Capital gains tax planning
- Partnership agreements
- Surgeries finances
- Pension planning
- Budget and cashflow planning
- Inheritance Tax planning
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
Our specialist team provides a wide range of accounting and business services to General Practice.
Recurrent Annual Services based on fixed fee:
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
Recurrent Annual Services based on fixed fee:
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