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Pigger479

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Post by Pigger479 » Tue Apr 17, 2018 8:50 am
I wrote on here yesterday about my review . I’ve done it roughly on paper and somehow I’m left with £762 a month if I have to pay this there is absolutely no point in me being in an Iva as i would be worse off then before the IVA!! I’ve just done my net take home for the year and decided it by 12 and come up with this. However my bonus and overtime is not guaranteed but I always get some every month... I’ve literally got no idea what to put for my monthly salary as I have no idea what a basic salary would be

Foggy

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Post by Foggy » Tue Apr 17, 2018 8:55 am
Your pay slip should be broken down into "Basic Pay", "Overtime" and "Bonus". Mine ( don't knbow if they all do) also gave me my basic hourly rate.

Have a word with Keith who, I believe, put the figures forward in the first place.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/

Pigger479

Posts: 103
Joined: Tue May 16, 2017 5:07 pm

Post by Pigger479 » Tue Apr 17, 2018 9:00 am
Foggy wrote:
Your pay slip should be broken down into "Basic Pay", "Overtime" and "Bonus". Mine ( don't knbow if they all do) also gave me my basic hourly rate.

Have a word with Keith who, I believe, put the figures forward in the first place.
What I have now done is added my contractual hours and standby payments together and left out overtime and bonus. Would that be acceptable ?

Pigger479

Posts: 103
Joined: Tue May 16, 2017 5:07 pm

Post by Pigger479 » Tue Apr 17, 2018 9:05 am
The only pay that is guaranteed is my salary @ £28,349 and I do 17 weeks of standby in the year and the payment is £187.08 per week. The total came to £31,528 which I then deducted 23% for NI and tax contributions to get a basic salary. Does that sound acceptable ?

Foggy

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Post by Foggy » Tue Apr 17, 2018 9:44 am
Pigger479 wrote:
The only pay that is guaranteed is my salary @ £28,349 and I do 17 weeks of standby in the year and the payment is £187.08 per week. The total came to £31,528 which I then deducted 23% for NI and tax contributions to get a basic salary. Does that sound acceptable ?

That sounds about right to me, but it is your IP you have to convince ! Then any bonus / overtiime over the 10% has to be paid in as extra each month.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/

Pigger479

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Joined: Tue May 16, 2017 5:07 pm

Post by Pigger479 » Tue Apr 17, 2018 10:50 am
Fingers crossed then!!!

Keith White

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Post by Keith White » Tue Apr 17, 2018 12:59 pm
Good to chat ear;lier. As mentioned - you have done everything right in the first year - informing the IP if your overtime/bonus on a given month was more than 10% of your basic salary. Exactly the same principle for the second year.
Keith White, IVA advisor at iva.com
Contact me at http://www.iva.com/about-us/keith-white

Pigger479

Posts: 103
Joined: Tue May 16, 2017 5:07 pm

Post by Pigger479 » Tue Apr 17, 2018 6:23 pm
Keith White wrote:
Good to chat ear;lier. As mentioned - you have done everything right in the first year - informing the IP if your overtime/bonus on a given month was more than 10% of your basic salary. Exactly the same principle for the second year.

Thanks for your help earlier!! Really sorted me out!! Looking at £30 a month increase which I can deal with !
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