Can we claim tax credits in an IVA?

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katy.c

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Post by katy.c » Thu Feb 21, 2008 7:46 am
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Can we claim tax credits even though we have an IVA?Im about to go on maternity leave and wondering if we can boost our income by applying for tax credits, but not sure if our IVA allows this or not?
Thanks!
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Soulgrowth

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Post by Soulgrowth » Thu Feb 21, 2008 7:51 am
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Hi Katy ... and welcome to the forum. One of the experts will be along shortly to answer your query but if it's any help just to let you know that I was already claiming tax credits when I entered into my IVA and this was classed as comprising my income which my IVA payments were based upon.

So I would say, yes, you are able to claim Tax Credits but I would make sure that you told your IP as soon as possible because it would likely make a difference to your monthly payments and better to let them know sooner so that they can re-adjust your payments than being landed with a horrible increase later :)

Debbie
Debbie
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MelanieGiles

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Post by MelanieGiles » Thu Feb 21, 2008 11:25 pm
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Yes - there is no restriction to you claiming tax credits when you are in an IVA.
Regards, Melanie Giles, Insolvency Practitioner
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Oliver

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Post by Oliver » Fri Feb 22, 2008 10:51 am
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Absolutely. Being in an IVA will not restrict you from claiming you Tax Credit entitlement!

All the best for your pregnancy.
Best Regards
Oliver
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