Will it make any difference now that I have changed from being self employed to employed ?

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
Post Reply
 
 

Can

User avatar
Posts: 23
Joined: Fri Oct 31, 2014 5:44 pm
Location: United Kingdom
Post by Can » Thu Dec 18, 2014 5:24 pm
Quote
Hi

When I entered the Iva I was self employed but 36 months later I have become employed and finished self emoyment .. My wages are near enough the same as I was earning when self employed Will this Make any difference to my Iva now I am classes as employed . ??
Top
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Thu Dec 18, 2014 5:38 pm
Quote
If the figures remain about the same there should be no effect on the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Top
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9562
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom
Post by plasticdaft » Thu Dec 18, 2014 5:39 pm
Quote
Shouldnt make any difference whatsoever as payments are based on whats affordable,so if you are bringing in the same wage roughly its carry on as you were. Keep your iva firm informed just because its good to talk.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Top
 
 

luluj

User avatar
Forum Expert
Posts: 11333
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom
Post by luluj » Thu Dec 18, 2014 9:07 pm
Quote
Won't be a huge impact ... your IP can reassess your case and hopefully it won't change your amount to creditors
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
Top
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:
Post by Michael Peoples » Fri Dec 19, 2014 9:19 am
Quote
Inform HMRC that you have ceased self employment or they will contuinue to raise assessments against you. It is also worth letting your IP know even though there will be no difference to the IVA. You will however now come under the 10% 50/50 rule so that will need explained.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
Top
Post Reply
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”