Keeping my tax rebate

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jade176

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Post by jade176 » Sun Jan 26, 2020 3:55 pm
Due a tax rebate this year
Was thinking on opening another bank/savings account and have it paid into that.
It won’t be thousands but a few hundred I would rather not pay into my Iva .

Foggy

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Post by Foggy » Sun Jan 26, 2020 5:28 pm
You might "rather not" pay it into the IVA, but you should not hide it either. If discoverd later on they could fail the whole arrangement.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

luluj

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Post by luluj » Sun Jan 26, 2020 8:48 pm
Sorry but this will need to be declared to your IP
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

kallis3

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Post by kallis3 » Sun Jan 26, 2020 10:18 pm
It will need to be paid across.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

recovering

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Post by recovering » Mon Jan 27, 2020 6:09 pm
I was allowed to keep a tax rebate as it was dealt with under the windfall,clause and was under ;£500

jade176

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Post by jade176 » Mon Jan 27, 2020 6:25 pm
Thanks guys
Checked my paperwork today re the £500 windfall clause.
I’m due about £450
So hopefully I will get to keep it

Foggy

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Post by Foggy » Mon Jan 27, 2020 6:34 pm
It depends on the view your IP takes. As Recovering has said, some have been allowed to keep it, being dealt with under the windfall clause. However, some IP's have taken it as income -- the arguement being that, if assessed correctly at the time, the extra take home pay would have increased your disposable income and, therefore, been paid to the IVA. Of course, this premise is doubtful if the income the rebate relates to is wholly pre-IVA.

As with many things IVA - it is in the lap of your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Mon Jan 27, 2020 10:02 pm
You will need to let them know.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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