www.iva.co.uk

Reading through my Chairmans report, it says "The Debtor shall report and overtime, bonus.... to the supervisor ....and where the sum exceeds 10% of the debtors normal take home pay.

Does this mean that if my quarterly bonus is only 5% more than my monthly pay, i dont need to disclose it, or would i have to as annually it could be 20%

Then it says 50% of the amount (over and above the 10%) should be paid to the supervisor, does this mean 40%, 50% or 60%?

Am i being stupid?

No vickir I have seen a few cofused with this. The first 10% is yours to keep so if for eg your wage is 1200 and you pick up 1340 an extra 120 that would be 10% extra and you would keep it. If you picked up 1540 then you would keep £120 and the other 200 would be 50% so you would end up with £1440 and 100 would be paid to the iva.If being worked out yearly it would be the same your yearly wage plus you keep 10% and anything over would be split 50/50.
Gosh i hope i am right, someone will correct me maths was never my best subject.

Ang

I'm going to be offering you a job soon Ang!! Spot on advice as usual.