CREDITORS TAX BREKS ON A IVA

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karenanne23

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Post by karenanne23 » Mon Nov 10, 2008 9:32 pm
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Hi
saw an add in the Sun Newspaper today re IVA's .I think the Comapny was Spencer Hayes. In the add it went on to say that Creditors get a Tax break on IVA's. Just curious as to whether this is correct.
Thanks
x
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MelanieGiles

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Post by MelanieGiles » Mon Nov 10, 2008 9:52 pm
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Do they mean creditors or the debtor I wonder?
Regards, Melanie Giles, Insolvency Practitioner
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karenanne23

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Post by karenanne23 » Mon Nov 10, 2008 10:02 pm
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Pretty sure it meant the Creditor.
Maybe they get a break on money they have to write off.
Have not got the paper handy as Hubby has taken it to work.
Will look it up again tomorrow and post the actual quote.
Interesting though if they do.
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MelanieGiles

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Post by MelanieGiles » Mon Nov 10, 2008 10:07 pm
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Creditors will get tax relief on bad debts, but I cannot see them getting tax breaks!
Regards, Melanie Giles, Insolvency Practitioner
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