Overtime bonus & tax rebates

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Bob451

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Joined: Thu Jun 10, 2021 3:25 pm
Post by Bob451 » Sun Jun 27, 2021 12:06 pm
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Hi all
Another thing I am worried about is I am due a tax rebate any time now . I understand the 10% 50/50 rule.
My only worry is , is this paid back at the end of the yearly review ?
Or can I tell my IP about the rebate and pay it to them there & then?
I would sooner pay them their 50% straight away as so no temptation for me to spend it.
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Foggy

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Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Sun Jun 27, 2021 12:35 pm
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IPs do, though they shouldn't, differ on this. All of my extra income, from whatever source, was dealt with on a monthly basis, as it happened, as specified in my proposal. That way there were no surprises and nothing got forgotten.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Bob451

Posts: 34
Joined: Thu Jun 10, 2021 3:25 pm
Post by Bob451 » Sun Jun 27, 2021 8:40 pm
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Thanks Foggy I’ll see what they say when I bring it up
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