Self employed and tax rebate issue

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frank967
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by frank967 » Sat Mar 03, 2018 2:01 pm
I am a self employed builder and i started an IVA August 2017 , 1st payment went out September 2017, i get a tax rebate every year and put it straight back into my business to replace tools etc, now i'm on this IVA does it mean it will have to go straight to them ?
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kallis3
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by kallis3 » Sat Mar 03, 2018 2:54 pm
Hi,

Possibly but you will need to run it past your IP and see if you can keep it, or part of it to replace your tools.
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Foggy
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by Foggy » Sat Mar 03, 2018 2:57 pm
This should have been discussed when you started the IVA and will be down to your IP. Many IP's allow these rebates to be kept as working capital. You really need to have a chat with your IP about this and try to get any agreement in writing for future reference.
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