I am in an IVA as a sole trader. I can see on my online SAE account that HMRC have refunded some tax. My question is, can I use this refund to go towards a balancing payment that is due in July 2015 (I have just paid tax for January 2015), or does it have to go into the IVA pot to be distributed amongst my creditors?
If the rebate relates to a pre IVA period it is usually a windfall but post IVA rebates are usually yours to keep. You need to check with your own IP as it may depend on whether the rebate was paid under the new or old UTR.
