www.iva.co.uk

Hi All,

I’m after some advise. I have been offered a promotion at work which will be a £11k payrise however my role will be based in London 3 days a week and the increase is to include my travel. How does that work in a way of an IVA ?
I can’t afford to take the the job if I have to hand over half the extra income. I have no issue with paying more but I need to make sure I can cover my travel which is working out at around £50 per day for my travel.

Any help would be appreciated!

Many thanks

Your IP should take the increase in expenditure into account alongside the increase in income --- any increase in your IVA payment should be based on the net increase in income, not gross.

I would chat with your team and get an agreement in principle (in writing) before deciding, one way or another.