I have some news that is almost good.
Anyone that reads my ramblings will know that I have queried HMRC’s guidance on the Gov.uk website Student loan repayments: guidance for employers which incorrectly quotes the 2016-17 thresholds as follows:
Indeed, I query any publication or fact card that quotes these thresholds. If it does quote them, I maintain it is a misrepresentation of the facts when they should be quoted as follows:
I know it’s only pennies. However, to quote as fact that the thresholds are in round pounds is preventing UK payroll professionals being able to perform a manual calculation – yes, believe it or not we do still want to do manual calculations, regardless of how I am constantly being told that we don’t need to because payroll software does it for us.
Up until Friday 22 April, HMRC’s SL3 tables agreed with me regarding the Plan 1 thresholds but, strangely, omitted Plan 2 thresholds altogether. In recognition that the tables were incomplete, HMRC updated them. Why is this not 100% good news? The weekly threshold for Plan 2 is quoted as £403.85 and not £403.84.
Just one less penny and I will be totally happy!