tax refunds

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hallway

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Post by hallway » Sun Apr 01, 2007 4:35 pm
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i have just entered into an iva and think i might be entitled to a small tax refund this april, if i do get one is this counted as extra income and will i be able to keep any off it.
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Adam Davies

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Post by Adam Davies » Sun Apr 01, 2007 4:56 pm
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Hi
You need to talk with your IP,however my gut feeling is that it will be treated as a windfall payment and you will have to pay it over to your IP....sorry

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Sun Apr 01, 2007 6:24 pm
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Hi hallway

The tax refund will be treated as a windfall and you will have to hand it over to the Supervisor. If the refund is less than £500, and you have the usual deminimis provisions, then you may be able to keep it, but as Andy says discuss this directly with your Supervisor.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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