Hi I have been on my Iva for a year and have been offered a pay raise with work, it is going up from late 20k to early £30k, works out at £140 a month after tax I think, just checking will the Iva company take half of this or is there a scale
The usual clauses are that they need to be informed of the rise when it happens and that 50% of the net increase will be taken into account after the next annual review. Some IP's will try it on and ask for the increase right away (and some agreements are written this way -- so best to get the paperwork out and check).
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