Hi I have had a ta rebate ( nearly had a heart attack as I misread it and thought I owed 6000! What happens to it? do I have to pay the whole lot into IVA?
In all probability, as, had they not been over deducting, it would have formed part of your disposable income and been sucked in anyway ... but there is no harm in trying a bit of negotiation
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
If that is the amount I would say yes as I believe the argument will be that any overpayment of tax will have been reflected in your income and expenditure.
However if you are a ltd company it may be a different matter.
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.
Personally given that small the amount I would regard it as a small windfall that can be kept.
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.
Need to dig out my chairmans report I think, I have no problem paying it over as long as it's right
I would love to know how Mel would've viewed it
I am a bit loathe to accept customer services opinion due to the farcical response we have had
my standard conditions state....after acquired assets means any assest windfall or inheritance with a value of more than £500 that you aquire or receive between the date the arrangement starts and the date it ends or is completed .......
Any thoughts?
I can't see anything else
Seems they roll them all into one definition. I have always understood that the divide is between earned income (salary, overtime, bonus payments) -- share it out --- and unearned income (windfalls, PPI, inheritances) -- take the lot.
Were I an IP, I would have treated a tax rebate as earned income (albeit refunded after being over deducted, but earned income nonetheless ). Wearing my GT hat I would take the lot ... wearing my PGJ hat I might treat it as overtime and keep half.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I do have the 50/50/10% clause which is on the letter that comes with my annual reviews am I not looking in the right place Foggy?
I will ask the 50/50/10 question after the next response
