3 quarters of my debt was business debt so shouldn't 3 quarters of IVA payment be tax relief ?

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Amanda.s

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Post by Amanda.s » Wed Jun 24, 2015 3:07 pm
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Im self employed and in an iva 3 quarters of my debt was business debt so shouldn't 3 quarters of my iva payment be tax relief
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lifenoteasy

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Post by lifenoteasy » Wed Jun 24, 2015 3:18 pm
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No but you might be able to offset some of the IP fees against tax.

It depends on why you went into the IVA e.g. to save the business.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
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Michael Peoples

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Post by Michael Peoples » Wed Jun 24, 2015 3:29 pm
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Lifenot easy is correct. Discuss this with your IP or accountant who should be able to explain it in more detail.
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
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