My husband and I are 2 years into an interlocking IVA. We have both worked from home since the start of the 1st lockdown so have applied for the tax refund for 2020-21. No idea what we will get (if anything) or how it will be paid - i have heard of people receiving cheques. My question is is whatever we receive liable for the 10 50/50? Thanks in advance
You would need to check with your own IP as they have treated tax refunds differently from each other in the past. My thoughts are that it should be treated as extra income, but I have seen it treated as a windfall as well as being totally ignored. I imagine the sums involved will also temper their thinking.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I will fire off an email when we receive it. Judging by amounts others have received it seems to be in the region of 250-300. Whatever happens happens i guess, be nice to be able to keep it but then never miss what u never had!