tax repayment

Get expert opinion. This is the place for new questions to be posted.
  • 1
  • 2
24 posts Page 2 of 2
User avatar
nikita
Posts: 15
by nikita » Tue Jul 11, 2017 8:36 am
Hello sir michael thank u ,you are so helpful here.. , if u fail in iva can u apply try again.it says 50%
To give to them for bunoses and overtime in a 110% in work and 100% windfalls like lottery,inheritance, family gift, and not limited to.. but is that mean tax rebates included.
User avatar
Michael Peoples
Industry Expert
Posts: 15188
Contact
by Michael Peoples » Tue Jul 11, 2017 9:33 am
Tax rebates should normally go back to the client during an IVA but you need to check with your own IP. If you have had an IVA previously or it failed this does not mean you cannot propose another. You may need a reason or explanation and if creditors previously rejected the IP would need to be confident that their previous objections had been addressed. However none of this is uncommon and can be done.
User avatar
nikita
Posts: 15
by nikita » Tue Jul 11, 2017 11:29 am
Hello recovering .. one more question sorry and thank you.. is that a latest refund of your i mean this year 2017.. its good u received it first or else the 500£ gone
User avatar
MerlinL14
Posts: 1168
by MerlinL14 » Tue Jul 11, 2017 2:42 pm
nikita wrote:
Hi merlin with the tax refund u had before during your Iva.. did u received first the money direct in your account.. and did u informed your Ip when u get your tax refund..and they get it all.. thank you

The cheque's were sent to me, GT requested that I forward it directly to them, they even sent me pre addressed and stamped envelopes.
User avatar
nikita
Posts: 15
by nikita » Tue Jul 11, 2017 6:32 pm
Thank u for your reply .. so did u keep
Some
Of it or u give it all to them.. i thought tax rebate is excluded..
User avatar
Foggy
Forum Expert
Posts: 24120
Contact
by Foggy » Tue Jul 11, 2017 6:47 pm
nikita wrote:
Thank u for your reply .. so did u keep
Some
Of it or u give it all to them.. i thought tax rebate is excluded..


Unfortunately not all IP's treat tax refunds the same way and some treat it as a windfall -- meaning, if it is more than £500 the IVA gets it all.
User avatar
nikita
Posts: 15
by nikita » Tue Jul 11, 2017 7:04 pm
Thank u foggy your so helpful
User avatar
recovering
Posts: 1338
by recovering » Wed Jul 12, 2017 5:20 pm
my refund was a couple of years ago. Michael told me to check my paperwork and it was included in the windfall clause. As it was under £500 I was eventually allowed to keep it
Francesca
Posts: 59
by Francesca » Wed Jul 12, 2017 7:42 pm
Hi Nikita. We are still waiting for the news. Just sent papers back to accountant who deals with our repayment. I know money will be transferred from hmrc to his account and then to us or directly IP. Will keep u updated as soon I know more.
  • 1
  • 2
24 posts Page 2 of 2
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: Google [Bot] and 26 guests