do I have to inform IP of tax rebate?

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nokia

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Post by nokia » Mon Oct 06, 2008 6:20 pm
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Goodafternoon..

I overpaid my tax in year 2008 and am geting a tax rebate of £568.21 when I pay it into my bank do I have to inform my I.P ?

Thanks in advance..
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MelanieGiles

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Post by MelanieGiles » Mon Oct 06, 2008 6:22 pm
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Yes you will need to inform your Supervisor of your tax rebate. Are you on the CIS scheme?
Regards, Melanie Giles, Insolvency Practitioner
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Fox84

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Post by Fox84 » Mon Oct 06, 2008 6:55 pm
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Would an overpayment in tax not have a direct afefect on disposable income as opposed to the IVA payment, surely any over payment in tax should go direct to the debtor?

Totally uninformed view BTW!
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MelanieGiles

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Post by MelanieGiles » Mon Oct 06, 2008 7:32 pm
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I agree - I just said that they would have to inform their Supervisor! Not hand the money over.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Tue Oct 07, 2008 7:52 am
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Your net income in that pay day will be increased by the tax refund. You certainly don't have to pay it over, but as Melanie says inform your Supervisor
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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