Sharesave scheme

[hr1350]

Hi All
Long time no post, things still running smoothly at the moment which is good. the company i work for is about to start a sharesave scheme where you can save £5 - 100 per month and after 3 years taken the money back with 20% bonus or buy shares at a set price (about 20% below todays price). Would I be able to do this? The scheme lasts for 3 years so i would still be in my IVA when the option comes through. Would this have to go into the IVA.

cheers

[MelanieGiles]

Hi there

If you were to save money in this way, and then buy shares, you would likely have to pay the money over when the shares mature - but do check this out with your own IP as they may have different views.

[jpj]

And remember..shares can go down as well as up!!(even with 20% off) remember good old Northern Rock...£12 to zilch in a year!! (

[cat 1]

would any money 'saved' in a saving account at the end of the year have to be paid into the iva (or 50% of it) then?

[Adam Davies]

Hi
No
If you used part of your expenditure allowance to save in a sharesave scheme then this should be exempt from your IVA when it matures.I guess you could argue that the amount that you have paid in is yours but any rise after that could be seen as a windfall by your IP
A bit of a grey area
Regards