Tax code amendment: Can they do this?

[prw]

I am entering the second year of my IVA an the Inland Revenue have just amended my tax code from 129L to K93 this means my net income is
considerably less. Can they do this?

[neverending]

There must be a reason for the amended tax code,have you underpaid in a previous year ?The inland revenue have considerable power and probably can do that if they have reason to.You need to obviously contact them and discuss your situation.Just as importantly contact your IP and seek their advice.They may well be able to accept lower payments due to your reduced net pay,indeed if you actually owed unpaid tax prior to your IVA then this should and could have formed part of your proposal.Speak to your IP asap.
Regards

[iva_squirrel]

Hello,


You need to contact your IP as soon as you can. A revised income and expenditure schedule can be requested, based on the change in circumstances. If necessary, the IP will call a further meeting of creditors to request a change to the original payment plan.

Kind regards,


Julia


For more information about IVAs, please visit my website:
www.supersonicsquirrel.net