I need to change jobs due to changes in the terms

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1
Post Reply
 
 

cva

User avatar
Posts: 5
Joined: Wed Sep 14, 2005 4:07 pm
Post by cva » Sat Jul 18, 2009 12:24 pm
Quote
I need to change jobs due to changes in the terms and conditions, but will need a company car in new job which will affect my tax code and obviously the amount I could contribute to my IVA.

Has anyone else had this type of change and how was it dealt with?

My new salary will increase by 1.5k but my new tax coding will affect my contributions significantly
Top
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9562
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom
Post by plasticdaft » Sat Jul 18, 2009 12:57 pm
Quote
Best to talk to your IP about this as soon as you can,especially if contributions are to be affected.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Top
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:
Post by Michael Peoples » Sat Jul 18, 2009 2:41 pm
Quote
If your surplus does decrease as a result of the company car you could offer to sell your existing vehicle and introduce the funds to address any shortfall.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
Top
 
 

Adam16

User avatar
Posts: 155
Joined: Fri May 08, 2009 9:26 pm
Location: United Kingdom
Post by Adam16 » Sun Jul 19, 2009 9:31 pm
Quote
What car are you getting as a company car? I cannot imagine many company car tax charges being in excess of my £1.5k.

Bear in mind my your tax code drop is the gross amount

I.e as a lower tax payer, if your tax code drops by £1,000 you pay £200 more tax a year.
50 months down 22 to go!
Top
 
 

Debtwitch

User avatar
Posts: 379
Joined: Thu Jul 16, 2009 5:30 pm
Location: United Kingdom
Post by Debtwitch » Mon Jul 20, 2009 8:37 am
Quote
Your IP may have some alternative options for you. As they have more background detail, they'll be best placed to speak to you and if they're any good, they'll also have formed professional partnerships and be able to access more advice other that the insolvency that they're a specialist in.

Speak to IP as soon as you can.
Last edited by Debtwitch on Tue Jul 21, 2009 6:34 am, edited 1 time in total.
Kind regards,

Angela Rosler
Insolvency Manager

Helping people with their debt problems for nearly 10 years.

Contact me directly for free, impartial, confidential help and guidance.
Top
 
 

kallis3

User avatar
Forum Expert
Posts: 77175
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
Post by kallis3 » Mon Jul 20, 2009 5:02 pm
Quote
Always best to speak to your own IP rather than take general information from here when you have specific questions.

I hope you get somethin sorted out, and let us know how you get on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
Top
Post Reply
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”