The 10% rule on income.

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OnTheUp

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Post by OnTheUp » Sun Jul 04, 2010 5:04 pm
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Hi, me again. I understand the fact that if my partner or I earn more than 10% over our normal income then we have to pay 50% of it, but is that each or joint? Just for round numbers, if I earn £2000 and my partner earns £1000 thats up to £300 per month without having to give 50% away but is that in total? Can she, for example earn £1300 and not pay any extra if I only get £2000???? Thanks.
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Adam Davies

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Post by Adam Davies » Sun Jul 04, 2010 5:31 pm
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Hi
No, it will be based on your individual net incomes. So if she earns 1300 she would be expected to pay an extra 100 pounds into her IVA. Remember you will both have IVAs, they are just interlocking.
Regards
Andam Davies
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OnTheUp

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Post by OnTheUp » Mon Jul 05, 2010 4:30 pm
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Thanks for that Andy.
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