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Michael Peoples

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Post by Michael Peoples » Mon Oct 05, 2009 9:45 am
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Income tax rebates relating to pre IVA periods are deemed to be windfalls. This is because you used credit at the time to fund the shortfall in your income caused by the excess tax payments so it is only fair that these creditors receive the rebate. Post IVA tax debts are treated totally different so Sue is 100% correct.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
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Bumpkin

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Post by Bumpkin » Tue Oct 06, 2009 12:03 am
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Michael Peoples wrote:

because you used credit at the time to fund the shortfall in your income
Bizarrely, I haven't used credit for the period that I've been overpaying tax - but I can see the concept and accept that I have to pay it over.
Last edited by Bumpkin on Tue Oct 06, 2009 12:05 am, edited 1 time in total.
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