Income Tax Increase In Personal Allowance

[Jaytee]

Hi

I have just had an IVA plan accepted by my creditors, based on my regular monthly income up to August, but from this month I now have £10 more monthly net pay due to the increase in personal allowance announced by the chancellor. I have been told by the IP that there will be regular reviews of my payslips and bank statements, so am I right to assume that this extra monthly £10 will all go into the IVA pot?. Many thanks.

[james.c]

basically i would not worry about it. After all £10 a month split between your creditors minus IP fees, their would be nothing left really and what was left it would be next to nothing for creditors

[David Mond]

I agree and with cost of living rises the 10 quid would soon vanish.

[MelanieGiles]

Any IPs who are taking an extra £10 off their clients at the moment as a result of the recent tax code changes want shooting!! This is money that was taken off us in April and they are just now giving it back!

[David Mond]

Shooting is too good and too quick for them - why not hung drawn and quartered?

[MelanieGiles]

You Northerners are very bloodthirsty! I remember what you did to William Wallace!! (And no jokes about how old I am!!)

[David Mond]

However I was educated down south in Wallingford!