if this yr my company gets a tax rebate would i have to tell my ip
its a 50/50 share in company i have
would this count as my income or has it in company name is it classed as companies ????
If it remains in the companies account it is the companies -- once passed to you, presumably as a dividend, it is your income and will be classed as such and dealt with under the terms of your own proposal.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Being self-employed, with a ltd company myself, if I were in this situation, I would get an expert financial expert opinion from my accountant as they are best place to act in your best interests.
I think Foggy is right though.
My understanding is: If this is a Corporation Tax/VAT rebate, it is a refund to the company (which is a separate legal entity to you as an individual) I assume therefore you need not tell your IP/case worker, and keep it in the company coffers.
If however, you then pay this rebate to yourself as part of your dividend or salary, then it will of course count as income.
If on the other hand, it is an 'income tax' rebate, that presumably would be in your name, and may also be treated as additional income for the purposes of your IVA.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
