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louisa813

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Joined: Mon Apr 12, 2021 3:39 pm
Post by louisa813 » Fri Nov 18, 2022 12:09 pm
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Hi All,

I’m after some advise. I have been offered a promotion at work which will be a £11k payrise however my role will be based in London 3 days a week and the increase is to include my travel. How does that work in a way of an IVA ?
I can’t afford to take the the job if I have to hand over half the extra income. I have no issue with paying more but I need to make sure I can cover my travel which is working out at around £50 per day for my travel.

Any help would be appreciated!

Many thanks
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Breezy

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Joined: Thu Jun 24, 2021 10:04 am
Post by Breezy » Fri Nov 18, 2022 1:02 pm
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Your IP should take the increase in expenditure into account alongside the increase in income --- any increase in your IVA payment should be based on the net increase in income, not gross.

I would chat with your team and get an agreement in principle (in writing) before deciding, one way or another.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.
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