VAT

[parjay]

i still dont understand VAT issue does this apply to everyone in an IVA ?

[kallis3]

I think it does apply to everyone in an IVA at the moment as regards closure.

Some companies are closing, some not. It's one of those things that we have no control over and we'll just have to wait and see what happens.

[kazzafunk]

Hi Parjay - nothing really for us to worry about (apart from getting our IVA's closed!!). HMRC used to take vat on the payments (for the fees I think) but this has now been overturned. IP's now have to claim refunds on the vat to go to the creditors.

How long have you been in your IVA? Ours started last June and as the refund would only be about £50 McCambridge Duffy have said they'll close ours without claiming the vat.

[Shining]

I can't and won't say I understand it all but I'll leave it to my IP to advise me accordingly when the time comes.

I hope everyone gets a swift closure after that last payment as after all it's what we're striving towards isn't it? becoming debt free and a new future. x

[antm]

This VAT thing does seem to have taken a life of its own. Its prevented IP's closing cases, its caused us stress as all we want it to get to payment 60 or 72 and know that its over.

The rate its going, we are going to need a VAT section for the forum! [}:)]

[parjay]

Kazzafunk ours started in feb last year f&f meeting 9th march

[kallis3]

It is something you will have to take up with your IP if your full and final is accepted.