The Plan 1 student loan interest rate reduced to 6% (from 6.25%) from 30 August. This rate change applies across the UK with the Department for Education (DfE), the Welsh Government and the Department for the Economy in Northern Ireland (DfE NI) all confirming the change.
The reduction follows the Bank of England Base Rate changing to 5% earlier in August.
Those running payrolls and payroll bureaus should notice a reduction in student loan deductions for relevant employees in their September payrolls. If not, you may need to confirm that your payroll software has correctly updated.
See: https://www.gov.uk/government/news/change-to-plan-1-student-loan-interest-rate-announcement
The Competition and Markets Authority (CMA) has announced a set of proposed measures aimed at increasing fairness, transparency and choice for businesses and consumers using Google’s search services in the UK.
Enterprises that pay business rates are being encouraged to check their current property valuation and make sure the details held by the Valuation Office Agency (VOA) are correct.