www.iva.co.uk

Im currently self employed and in an IVA earning around net 1k p/m but could have the opportunity to work full time with a higher salary of net 3K per month. I want to continue self employment at the same time and could really use the extra cash to invest in the self employment side of the business, if i where to do this i would maintain net income of 1K. So how would this work with an IVA? Id be operating the self employment business at a loss of 3k p/m and this would be shown on my SA tax return and effectively offsetting the full time income. Nothing would change in my net income. Would this be acceptable, do i even have to notfiy my IP if there is no change in my net circumstances?

Hi and welcome.

Not sure how this would work but you should inform your IP anyway of any change in circumstances.

So long as you were not doing anything to prejudice your ongoing IVA payments, I cannot see a problem, but it seems strange to want to flog yourself for something that you admit will be making cash losses - albeit this could be seen as an investment for your future.