www.iva.co.uk

Hi, have been in an IVA since April and a friend today has asked me to help with their business in numerous capacities.

One I am unsure of whether I am able to do, so would like you to advise.

The company employs alot of foreign workers from Poland and Portugal, and they usually are entitled to a tax rebate before they return home. They want me to process and apply for the tax rebates, is this possible whilst I am in an IVA and would I need any sort of licence.

I have not told them of the IVA

hope you can help Kirsty

Hi Kirsty

I'm not an expert but I can't see why there should be any problem with you fulfilling this role whilst you are in an IVA ... that is of course if you feel comfortable with doing so. I think that most of the restrictions with working in certain circumstances are more concerned with if you are a bankrupt.

Is your friend aware of your finacial status?

Debbie

There ought to be no problem at all with this Kirsty, so long as you are properly declaring the income to your IP, and if you are going to do the work on a self-employed basis that you register with HMRC and pay over your taxes on those earnings.

Thanks Melanie and Debbie,

It will be on a self employed basis and I already am self employed, so it will just increase monies owed to HMRC and to my IVA, though my IP did say to pay any excess to my husbands IVA and not mine.

Kirsty

Not sure I understand the logic behind that one, but assume your IP does!

I think it may have something to do with my dividend being nearly 90% and my husbands is slightly lower, but due to Amex there were some modifications with them wanting a higher dividend and a 10% increase on contributions each year. So I assume as mine is more straight forward, any extra monies would help with acheiving the required amount for my husbands.

Kirsty

An interesting way of accounting!

sorry forgot to add that all my income goes to my iva, and none for any of our bills, my husband covers all our bills.

Kirsty

Even more interesting accounting!