Payment break

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Coline81
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by Coline81 » Wed Jan 09, 2019 1:21 pm
Hi...do you think my Iva provider will allow us to take a payment break in order to pay the self assessment tax bill? We have to pay an on account payment as well as last years tax bill and we’re really struggling.
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Foggy
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by Foggy » Wed Jan 09, 2019 1:46 pm
Only your provider can answer this, I am afraid. But payment breaks ( which are added back on at the end) are not uncommon.
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Lisa Thomas
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by Lisa Thomas » Thu Jan 10, 2019 9:17 am
If you are struggling to meet your contributions there may be a problem with your disposable income calculations or your spending.

You need to have a look at the original I&E used and why you do not have enough funds to pay your post IVA taxes, which should have been allowed for.

When did your IVA start as HMRC will claim in the IVA for taxes to the whole year ended April after it commenced?
Coline81
Posts: 40
by Coline81 » Thu Jan 10, 2019 10:34 am
It starts 28th Nov 2017 and we haven't had any payment breaks up until now. This is the first year that my husband has had to make an on account payment which we had never even heard of before and our accountant didn't do our tax return for 2017 - 2018 until Sept 2018 when we were advised that not only did we have last years tax bill but 50% of next years....at least we know this now and can manage our money appropriately going forward On top of this my MOT was £305 in Nov so we fell behind on the council tax bills and now there is a problem with my exhaust! I obviously need the car to get to work and back and without this payment break i'm not going to be able to afford to get it fixed this month. I have sent an email which includes all this detail so I am awaiting a response and then I can phone the mechanic! Why do these things always have to happen in January :(
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