Post IVA. Tax refund

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MerlinL14
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by MerlinL14 » Fri Jul 07, 2017 3:14 pm
Informed of my first Tax refund since my IVA finished. I had two during and just waved bye bye to them knowing it was never going to be mine! Well I know this one will be mine and keeping with the frugal lifestyle we have kept to post IVA it will just get secreted away in our saving account, but just knowing it is mine, all mine (sounds too sinister) is a huge reinforcement of the decision we made to enter an IVA and endure the 5 years of beans on toast.
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Foggy
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by Foggy » Fri Jul 07, 2017 3:17 pm
Coincidentally Francesca has asked a question about this here:

viewtopic.php?f=145&t=82926&p=711932#p711932

Perhaps you could tell her your experiences :-)
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Michael Peoples
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by Michael Peoples » Fri Jul 07, 2017 3:20 pm
If the refunds relate to the construction industry scheme [CIS] then we specifically exclude them for the duration of the arrangement as the funds form part of the projection income, expenditure and cashflow. Usually the funds repaid under CIS are needed to pay the accountant, renew public liability insurance, repairs etc which form part of the projections in the proposal. This money is not a windfall in our opinion and we have never had an issue with creditors, HMRC or regulators alike.
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