OTE & Overtime Limits

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

Dan76

User avatar
Posts: 28
Joined: Mon Sep 02, 2013 10:00 am
Post by Dan76 » Tue Jun 03, 2014 7:59 pm
Quote
Hi

Is there any kind of caps on OTE's, bonuses and overtime when in an IVA?

If I earn over £500 in bonuses and overtime in a single month does that class as a windfall?
For the last 12 months I have earned several hundreds of pounds each month in OTE earnings and overtime. My next payday is going to be my biggest in bonuses and overtime and will be over the £500 mark quite easily.
I already pay 50% of all additional income after the first 10% into my IVA each month.

Anyone one been in a similar situation?

Thanks in advance
Dan
Top
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Tue Jun 03, 2014 8:16 pm
Quote
If employment related it will not be considered a windfall --- and, if it were, you would have to pay over the lot if it was over £500.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Top
Post Reply
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”