Im on an IVA but want to save into my companys share scheme on behalf of my mum IE My work deduct the money from my
wages and my mum gives me the cash each month as i can't afford it myself -After the term of the scheme i transfer the shares into her name. I have done this before for my brother in law pre- IVA . Will this be a problem? I would like someone close to benefit from my perk as i can't.
We have done it before where another family member benefits and the scheme is not totally lost. Discuss with your IP what you propose to do and since it will not affect your surplus and you will not receive the shares it should not be a problem.
Michael Peoples wrote:
We have done it before where another family member benefits and the scheme is not totally lost. Discuss with your IP what you propose to do and since it will not affect your surplus and you will not receive the shares it should not be a problem.
Goodness me how fast was that reply !!! Thanks Michael I will call them soon. My next scheme doesn't start for a while but im pleased its potentially do able.
I cannot see that there is a problem with this in the IVA, but if it fails and you are to be made bankrupt this might cause one or two problems if there is an argument over ownership.
MelanieGiles wrote:
I cannot see that there is a problem with this in the IVA, but if it fails and you are to be made bankrupt this might cause one or two problems if there is an argument over ownership.
