Self employed IVA self assesment advice

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adambecki2011

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Post by adambecki2011 » Tue Apr 11, 2023 2:44 pm
Hi,
We have submitted our tax return for 2022/2023 and have an overpayment due to us. We have requested the payment from HMRC. They have said they need the right authorisation to release the payment? He said that this was due to bankruptcy, I explained not bankrupt but in an IVA he said yeah it will be that then?
Has anyone been in this situation?
What was the outcome? Did iva keep the overpayment? Are you entitled to any? How long did it take to resolve?
Many thanks

kallis3

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Post by kallis3 » Tue Apr 11, 2023 3:31 pm
I'm afraid I have no idea but can only suggest that you speak to your IVA company to see what they have to say.

I deleted your other post as it was a duplicate of this one.
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

adambecki2011

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Post by adambecki2011 » Tue Apr 11, 2023 3:34 pm
I have spoken to them and they have just said that it will be passed to the supervisor and they will decide.

Was just looking at peoples experiences.

Thank you 😊

kallis3

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Post by kallis3 » Tue Apr 11, 2023 3:44 pm
Hopefully someone will pick up on this.
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

adambecki2011

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Joined: Tue Apr 11, 2023 2:39 pm

Post by adambecki2011 » Tue Apr 11, 2023 5:28 pm
Me too, this money is what we use for our expenses. I haven’t included any in the budget. Now concerned that they will take the refund. Obviously, when we started the Iva they knew he was self employed under cis and didn’t take his expenses into account

adambecki2011

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Joined: Tue Apr 11, 2023 2:39 pm

Post by adambecki2011 » Wed Apr 19, 2023 9:20 am
Just had our annual review and they confirmed that we could have our tax refund it has been passed to the accounts team to let HMRC know. I have no idea how long this process takes.

In the meantime we have had some positive news if my husband uses this to complete some courses he has a paye position waiting for him. Fingers crossed it doesn’t take long to sort.

kallis3

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Post by kallis3 » Wed Apr 19, 2023 10:49 am
So pleased it worked out for you and I do hope it comes through soon.

Hope his courses go well and he is able to start this job soon. Good luck and let us know how it goes.
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

adambecki2011

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Joined: Tue Apr 11, 2023 2:39 pm

Post by adambecki2011 » Wed Apr 19, 2023 11:46 am
Thank you for your reply. When I originally contacted HMRC they said I should hear something by 11/05 and get a letter.

Hopefully it will all be sorted by then!!

adambecki2011

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Post by adambecki2011 » Wed Apr 19, 2023 11:58 am
Just looking at all of the paperwork HMRC are added as a debt for £1 however we don’t owe them anything, do you know why?

Breezy

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Post by Breezy » Wed Apr 19, 2023 1:24 pm
Wed Apr 19, 2023 11:58 amadambecki2011 wrote:
Just looking at all of the paperwork HMRC are added as a debt for £1 however we don’t owe them anything, do you know why?
This is a nominal amount to add them as a creditor, or potential creditor, being self employed.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.

adambecki2011

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Post by adambecki2011 » Wed Apr 19, 2023 1:27 pm
Thanks for your reply. Is that for the whole duration?

Breezy

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Post by Breezy » Wed Apr 19, 2023 2:50 pm
The balance will change, according to HMRCs eventual possible claim, which may well be zero when the time comes.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.

adambecki2011

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Joined: Tue Apr 11, 2023 2:39 pm

Post by adambecki2011 » Wed Apr 19, 2023 6:31 pm
Thank you!

adambecki2011

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Post by adambecki2011 » Mon May 22, 2023 8:52 am
Still no update, payplan have been in touch with HMRC to say they have no interest in funds. See how long it takes!

kallis3

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Post by kallis3 » Mon May 22, 2023 9:14 am
Hope it comes through soon.
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
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