How do I go about ensuring that whatever tax I owe is paid by the IVA ?

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Karen.tr

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Post by Karen.tr » Mon Jan 27, 2014 6:56 am
I understood when I took out my IVA that as I was part self-employed, an allowance was made for tax payments up until tax year 2012 - 2013 (I took out the IVA in Nov 2012), so in effect for the first two tax returns of my IVA.

On my last tax return I was due a rebate, so my issue did not arise, however this year I will undoubtedly need to pay some tax. Can you just advise how I go about ensuring that whatever tax I owe is covered by the IVA as I cannot afford to pay this myself when I submit the form on/before 31/1/14. I am unsure where on the online form I advise them I am in an IVA or do the tax people already know from my UTR somehow?
 
 

martjase

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Post by martjase » Mon Jan 27, 2014 8:17 am
Hi Karen,

I think you will find that you are still responcible for paying your own tax.

you said an allowance was made for this.
 
 

ClareSilver

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Post by ClareSilver » Mon Jan 27, 2014 8:49 am
There should be an allowance in your I&E to pay this.
 
 

Hair_bobbles

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Post by Hair_bobbles » Mon Jan 27, 2014 7:33 pm
Hi Karen: I think you'll find that you will have had an initial period where your iva included your tax liability but after that you are responsible for setting aside & paying your taxes on time.

Were you given a " new tax reference number" to cover the this initial period? Because i think you'll find you will need to file your return under that new reference & when your tax ( debt) liability is cleared then your tax returns have to be done under your original tax reference number. ( so you will effectively have 2 tax reference numbers at the same time)

However I am slightly worried by the wording of your post! Have you actually sent the tax element set aside in the I&E off to to iva every month ?
Or is it that although the tax element is part of your budget you havn't actually set that aside yourself to pay your tax bill at the end of the week?
IVA COMPLETED & CLEAN CREDIT FILE.

An old bible proverb says this: the rich one rules the poor, and the borrower is a slave to the lender.

How true are those words of wisdom.
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