My partner has just been told he has to go self employed .. meaning he has an increase of around 500 a month wage .. He is not in my Iva it’s souly In my name for my debt currently paying £120 a month but he lives with me and pays household bills, I am aware that I need to inform my IP but my partner is concerned this will affect his wage, he doesn’t want all his hard earned cash going towards my debt which I understand, I do have a50/50 clause on my IVA expenditures have increased now too from going from employed to self employed any feedback would be appreciated
In any event the headline increase in income will be largely offset by tax and NIC deductions which will have to be set aside for the end of year tax bill.
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