Overtime/ bonus payments.

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Dora06

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Post by Dora06 » Sun Mar 31, 2019 5:45 pm
Hi, advice needed please. Hypothetical question at the moment.. if i were to earn a bonus i would be required to abide by the 50/50 rule after the ten percent. Knowing i had a lot of birthdays, weddings etc. Coming up that month and knowing i would have an overtime payment the following month could i pay back a little less than the 50/50 knowing i would pay the extra back on the following wage? I am required to send in wage slips every 6 months... as long as you have paid the extra you've earned in full does it matter if you pay less one month and more the next as long as the totals add up the same in the long run? :D

kallis3

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Post by kallis3 » Sun Mar 31, 2019 6:14 pm
I doubt it but you would need to speak to your IP. Birthdays are no usually allowed.
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Foggy

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Post by Foggy » Sun Mar 31, 2019 6:19 pm
Standard terms are that overtime / bonus payments are paid in within 14 days of you getting them, unless otherwise agreed with your IP.
We are all expected to budget for birthdays and Christmas ahead of the occassions .... I doubt the IP would be willing to let you, effectively, "borrow" against the prospect of next months overtime.
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Dora06

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Post by Dora06 » Sun Mar 31, 2019 7:49 pm
Okay thank you. I don't need to do that was just wondering how closely things are monitored, ie is every wage slip checked each month and then over payments checked monthly or do they check your yearly income at review time and check your overpayments to make sure you have paid in the correct amount? :?

Foggy

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Post by Foggy » Sun Mar 31, 2019 8:12 pm
Sun Mar 31, 2019 7:49 pmDora06 wrote:
Okay thank you. I don't need to do that was just wondering how closely things are monitored, ie is every wage slip checked each month and then over payments checked monthly or do they check your yearly income at review time and check your overpayments to make sure you have paid in the correct amount? :?
They will check your total income at the annual review. However, the onus is on you to declare it as and when you get it. This is one of the things you have agreed to do.
My income flutuated and so, each month, I scanned my payslip over to my IP with a note of what I was paying as an extra payment ( I didn't have a 10% disregard and it was a straight split ).
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
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