As I understand previous messages in this forum.. If I earned £1500 per month at the start of my IVA and now receive fairly regular but dissimilar payments of up to £100 per month, there would be no requirement to declare them.
Should it be shown that they, for example, averaged £90 or so per month over a 12 month period, would the following year's basic be increased to 1590 per month so that there would be no advantage in working extra to benefit from them?
The same question another way. I earn £1500 per month in the first year and six months into the IVA, I manage to gain up to but no more than the 10% (£150) extra fairly regularly. My 10%/50% aggreement says I can do that without penalty, so it gives me a small leeway against a very tight budget. The second year commences and continues in a similar way - so I maintain a small leeway once again.
If, however, I was obliged to declare ANY additional income (even withing the 10%) and this was added to the £1500 basic, I would lose out in the future - ie, the "bonus" would have been absorbed into the basic and I would be no better off.
It is an incentive to be able to have a 10% margin and I would be more than happy to be able to exeed the 10% and hand over 50% of the difference - it is money that I owe them after all. It would be a dis-incentive, however, if the following year the basic was increased to the current year's "extra" so that in effect, my nett income dropped again.
Any idea how this situation would be addressed?
