Has anybody had one yet?, or has anyone recieved a rebate? How would any of us in an IVA go about having to pay back any tax demand as our budgets surely wouldnt allow any room for us to do so, and if any of us are one of the lucky people to get a rebate, would that have to be handed over in full to the IVA?
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
There was a similar thread earlier and it was advised to contact your IP as soon as possible for both scenarios I guess and take their case specific advice.
Hoping I'm not one of them!
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I am sure I saw something yesterday on yahoo where they are advising that there is a tax loophole so you can get out of paying anything back. This is a disgrace anyway - how on earth are you supposed to know what you should be paying that is why there is the Inland Revenue!!!
Don't forget that you don't have to start paying anything back until the next tax year, so plenty of time to sort out the finances with regard to the IVA.
As soon as anyone gets a letter though, whether it be for a demand or a rebate, they should get in touch with their IP.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If it's more they will be asking for payment straight away and it's up to you to speak to HMRC to sort out payment plan if you can't afford it.
Not good, but the vast majority of us shouldn't have a problem.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Cheers folks, I was just wondering because as there are so many cases someone in an IVA will be affected.
I wonder if the tax man has priority over other creditors? I saw one poor woman on the telly who`d recieved a demand for over 5K[:0]...She was a single parent doing three jobs to make ends meet, how the hell can she afford to pay that much back?
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
It has been caused by the normal tax cycle except reconciliations did not take place last year so repayments/overpayments are double what they might be. The only way to prove an HMRC error is to be able to show that you informed them of a change to your circumstances and they failed to take any action. This must be done within 1 year of the end of the tax year concerned.. If you have an underpayment of tax and it is to be included in your 10/11 code, you could write to HMRC telling them your income/outgoings and ask that they collect this over 2/3 years as it would cause you exceptional hardship. Statisticaly you are more likely to receive a cheque from them than a bill.
Hope this helps
