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Karen.tr
- Posts: 3
- Joined: 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?
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martjase
- Posts: 17
- Joined: Sat Jan 18, 2014 8:15 am
- Location:
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.
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ClareSilver
- Posts: 597
- Joined: Tue Jan 15, 2013 2:15 pm
- Location: United Kingdom
There should be an allowance in your I&E to pay this.
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Hair_bobbles
- Posts: 215
- Joined: Sun Oct 20, 2013 1:25 pm
- Location: United Kingdom
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.