123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Student Lending Companies Head Will Not Be Forgiven For Saving Tax Of 40000

Profile Picture
By Author: Jack Paul
Total Articles: 15
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

After knowing that the head of the Student Funding Company avoided paying thousands of pounds in income tax, now Mr. Lester will be forced to pay tax and National Insurance contributions from his pay packet in future. He earns £140,000 a year, has been paid through a private firm under a two year contract signed in January 2011.

In May 2010, Mr. Lester was appointed interim chief executive. He was then paid through the recruitment firm Penna plc which placed him with the Student lending Company. He was appointed on a two-year contract in January 2011, but retained the terms of his temporary employment, instead of being added to the payroll. The revelation is a big embarrassment for the coalition after it came into light that ministers approved the deal. Ministers announced that Mr. Lester has now been added to the payroll after taking advantage of a tax loophole which has saved him an estimated £40,000 a year from his tax bill.

Danny Alexander, Chief Secretary to the Treasury admitted that the arrangement set a bad example and announced that the Government was now reviewing all previous contracts to ensure ...
... other public servants were not taking advantage of similar tax dodges. The revelation has shaken students and their families who were forced to give thousands of pounds in finance to cover tuition fees and living costs at the university. For three-year courses starting this autumn, they face the prospect of taking out finance up to a maximum of £50,000, with interest charges on repayments of 3 per cent above the inflation. He also said that the Student Loans Company will change the arrangements and deduct tax and National Insurance at source for the remainder of the contract. Get finance at your footsteps: Apply online with quick payday loans and easy cash without any hassles, students and unemployed can also apply with ease and meet their entire financial requirement in simple way.

Across Government, if any such appointments are found, whether agreed by this or the previous government, which do not provide value for money, he would urge departments to seek to unwind them as fast as possible and as quickly as it is compatible with securing good value for public money. This is a time when we all have to move in the same direction to tackle the country’s financial problems, it is very important that we all must contribute our full and fair share.

Jack Paul is expert financial adviser. He writes articles on quick payday loans @ http://www.quickcashpaydayloansuk.co.uk/ , www.poundstopocket.co.uk and www.paydaytext.co.uk

Total Views: 200Word Count: 425See All articles From Author

Add Comment

Business Articles

1. Why Bergercpafirst Stands Out Among Cpa Firms In New Jersey, Manhattan, And Nyc
Author: bergerCPAFirst

2. Restoring Functionality: The Importance Of Local Expert Upvc And Aluminium Door And Window Repair
Author: Vikram kumar

3. How Custom Printing & Packaging Helps Mumbai Businesses Build Stronger Brand Identity
Author: Walid Shaikh

4. Role Of Marble Ganesh Murti In Festivals And Rituals
Author: Madhav Arts

5. 2025 Trends: Heavy-duty Paper Bowls Shaping The Dessert Industry
Author: Gujarat Shopee

6. How To Join Shade Cloth Together: Your Easy Guide
Author: DIY Shade Sails

7. Top 7 Benefits Of Asterisk Development For Modern Businesses
Author: Jack Morris

8. Experience The Wellness Benefits Of A Sauna In Kelowna
Author: Duke John

9. Reputable Pintle Bush Distributor In Dubai Uae For Marine Use
Author: Anbu Thalapathy

10. Trustworthy Stern Tube Bearing Manufacturer In Dubai Uae For Marine Sector
Author: Anbu Thalapathy

11. From Pigment To Perfection: Koel Colours In Colour Cosmetics Manufacturing
Author: Kanika shah

12. Top Benefits Of Lithium Batteries For Caravans And Travel Trailers
Author: trailercamper

13. Real-time Competitive Price Tracking : Boost Revenue By 18%
Author: Actowiz Metrics

14. Iso 42001 Vs Iso 27001 Certification
Author: Sqccertification

15. Best Office Cleaning Suppliers In Dubai – Facilico Facilities Management
Author: Facilico

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: