Overtime earned by non-IVA partner?

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tigger

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Post by tigger » Fri Jun 11, 2010 12:53 pm
Hi,

My question is regarding overtime earned by my wife who is not part of my IVA. Is this overtime to be included in the annual I/E report when calculating my wife’s %age contribution to household bills? Or does the 50% rule apply to overtime earned by a non-IVA partner? I've never had to bother about this before in previous anniual reviews, as my wife's old job was zero overtime.

We’re not talking vast overtime sums here. On average my wife earns approximately £500 per month with say £90 of the £500 being overtime. It’s not going to make any difference either way to my monthly IVA payments, as our increased outgoings this year easily swallow up this “overtime” – I just like to get my sums correct!

Will have completed year 4 in 5 months time – finish line is getting nearer & nearer [:)]

Thanks

David
 
 

Michael Peoples

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Post by Michael Peoples » Fri Jun 11, 2010 12:57 pm
Your IP will not take your wife's overtime into account and it is not affected by the 50% rule. However, if the earnings are regular and effectively part of her salary it could change the percentages slightly although the amounts you are talking about are not huge.

Let your IP know by all means but it should not affect your payments.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

tigger

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Post by tigger » Fri Jun 11, 2010 1:23 pm
Hi Michael,

Many thanks for the rapid answer [:)] Indeed, the overtime is not regular but I will include a note with her wageslips when the paperwork goes in for my next annual review.

regards

David
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