www.iva.co.uk

I will be receiving an extra payment in December and have sent an email to my IP to check what would class as but awaiting response. Any ideas how this will work?

One Off Payment - This is £579.66 before tax. I don't really know what to class this as, they have put it down just as miscellaneous payment. What it was for is, instead of our cost of living payrise which we usually receive, this year it was rejected and the company offered to pay us 4% of our wage in a lump sum, so in effect it is a payrise which covers from 1/4/11 - 1/4/12, but was paid in this one part this month. My annual salary has not changed though so this will not affect my ongoing wage next year, as the company are deciding how this is going to be done after April 2012

Hi, I'm not sure about the answer to this one and hope your IP clarifies for you soon. One of our experts/professionals will be along soon who may be able to help. x

Hi

An interesting one

Usually cost of living pay rises go up hand in hand with expenditure increases so your IVA payments do not increase. In your case your expenditure will have gone up [utility bills/food/petrol] but your income not. If i were your IP I would allow you to keep the increase in full to offset against expenditure increases of between 30-40 pounds a month.

Worse case scenario is that you will keep 50%, I can't see it being classsed as a windfall and you losing all of it

Regards

I agree with Andy. As a non consolidated payrise (albeit in a lump sum) it shouldn't be classed as a windfall.

Thank you for your response, I didnt think it would be classed as a windfall either. I thought at worst the 50/50 would apply. Ive sort of worked it out in my mind on the 50/50 way, but I'd be so happy if they lookeed at it as the cost of living way. Just have to wiat and see.

It was so awkward to explain, i hope the understand ha

when you get a reply from your ip. Could you please post it as my company have offed our pay rise in a lump sum agin this year.