I went into the IVA in Nov 2013 with a debt of 104k My accountant tells me that my tax bill for 2014 (which forms part of a claim in the IVA) is going to be about 5.2k higher than expected. The revenue debt was 33,800. This is because I had to account for a bill in my figures that in fact was not paid in full for two years after billing will a variation of 5k by one of the claims in the IVA put the IVA at risk. Will a variation be needed? or is a 5k variation in relation to an overall deficit of 104k within tolerance?
Never attribute to malevolence, that which equally explained by stupidity.
This is not unusual and nothing to worry about. It is within the 10% level of breach [which we often remove anyway where there are HMRC debts] and unless there was a minimum dividend specified this should make no difference at all.
