Do I need to notify IVA of possible tax refund ?

[Clare.mc]

I AM CURRENTLY IN MY FIRST YEAR OF MY IVA, I AM EMPLOYED AND SELF EMPLOYED, I THINK I MAY BE OWED A TAX REFUND FROM SELF EMPLOYMENT, DO I NEED TO ADVISE MY IVA COMPANY??

[Broke of London]

Yes, in a word.

It is always best to notify your IP of any changes to your finances and in some cases tax refunds are captured under the terms of the IVA.

PS - welcome to the forum xx

[Shining]

Hi welcome from myself too, any tax refund given should be discussed with your IP and take some case specific advice from them in respect of the refund, it keeps them in the loop and prevents any nasty surprises at review time. x

[MelanieGiles]

It may be that this was already built into your cashflow forecasts, but best to check with your IP to be sure as it may need paying into the IVA.