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Posted: Mon Sep 19, 2011 3:42 pm
by Neil.sl
I'm on an IVA that'll be completed in 4 years time. I've been offered shares at work (the company hasn't floated yet) and these will remain unvested until I've completed another 3 years' unbroken work with the company. They are currently worth nothing and there's no confirmed date when the company will be floated on the stock market. Would accepting them have any effect on my IVA?
Posted: Mon Sep 19, 2011 3:58 pm
by kallis3
Hi Neil and welcome to the forum.
No idea about this but you do need to speak to your IP to see if this acceptable.
Posted: Mon Sep 19, 2011 6:30 pm
by Shining
hi neil and welcome to the forum. Like Jan I've no idea about this but maybe one of our other posters will know or as Jan says your IP is best placed to offer case specific advice. All the best. x
Posted: Mon Sep 19, 2011 9:29 pm
by dontlookback
hi ,yes they will need to be declared as i think they are classed as an asset ,and any payments from them during your iva would be classed as a windfall ,hope this helps [;)]
Posted: Mon Sep 19, 2011 9:33 pm
by Adam Davies
Hi
Dontlookback is correct, if they become an asset within the term of your IVA they will need to be realised and paid into your IVA.
Regards
Posted: Mon Sep 19, 2011 10:26 pm
by MelanieGiles
The shares will become a windfall when they have vested - ie in three years time, so the right thing to do is to tell your IP now so that they can diarise a review at the appropriate time.