1. My partner changed jobs in december before the IVA started and only got paid 2 weeks wages from her old job so in January she got paid nearly double her normal wage, bit concerned as this would use all her 10% up in one go, how would this work as we struggled in dec on 2 weeks wages before the IVA started in Jan.
2. Is the 10% based on both of our income as a whole?
3. Should i tell the IVA company about the dec issues with wages?
4. Does the 10% over work from the start of the IVA or the TAX year?
You need to speak to your IP regarding the shortfall before the IVA to see if they agree that the later "extra" pay can be considered to be from the short month. You should eep your IP in the loop about everything of a financial nature.
The 10% disregard is on a monthly basis and extra pay should be accounted for on a monthly basis and paid in monthly. Unless you have a varying base rate (self employed, for instance) it is not averaged out over any period.
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