Is there a standard formula used by IPs for calculating monthly payments for weekly paid

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surveyor sam

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Post by surveyor sam » Wed Nov 07, 2012 1:57 pm
Hi I am just into my second year of my IVA when i have sent off my yearly copies of my payslips, which I did the year before and only now do they notice that I have exceeded my monthly allowance. This due to the fact i get paid weekly and yes march 2012 was indeed a 5 week month but so was another 3 other months in the same year. I never got picked up on this last year as i thought any sensebile IP would be able to work out weekly paid should be calculated by 13 and divided by 4. If the HMRC can use this calculation surley there must be a format that all IP must work under and a basis to calculate the people who are weekly paid.
I did speak to the supervisor and she explained that she was monthly paid we might each earn the same over the year but some months I would be paid more that her and that should be taken into the 10/50/50. my answer was what about the other 8 months of the year when I get paid less?
I need to write to my IP I am asking if there is a standard formula used by IP's to calculate this as I will need to highlight it
 
 

Skippy

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Post by Skippy » Wed Nov 07, 2012 2:26 pm
Hi, Andy and Mel have answered this on your other thread:

http://www.iva.co.uk/forum/topic.asp?wh ... 760#482961
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