What are the limits we can receive as presents in an IVA ?

[Scimi]

Hello All,
As Christmas approaches and we find ourselves not being able to buy anyone anything I was wondering what are the limits we could receive as presents? Do you have to declare them?? Not sure anyone would want to buy me anything but could some one buy me household items / give cash?? I suppose this includes birthdays, easter. I suppose we all like presents as they help us out. Large or small. Silly things we cant afford mean so much more now (pants and socks) I suppose if I had a rich uncle who gave me a large amount on all special occasions what are the limits??

[footiemad]

I didn't think that you would have to declare presents - that would be outrageous. Maybe if you were given a large amount of cash it would be different - not sure but it will be interesting to see what the experts say on this matter. (Maybe I should ask everyone for money this Christmas - probably wouldn't amount to more than £50 though)

[Skeef143]

Hi, I'm not an expert, but as far as I know non-monetary gifts, and money in vouchers/gift cards are absolutely fine and are both exempt from the IVA.

I do actually think monetary gifts eg Christmas/Birthday are okay, to some degree, but someone with more experience than me would have to clarify [:)]

[Shining]

I feel your usual birthday/christmas money is fine to receive without informing your IP. My MIL bought us a holiday and I did run it by my IP who said it was fine as I didn't want to jeopardise the IVA arrangement.

A huge amount might need to be disclosed but again what is a huge amount? x

[plasticdaft]

A monetary gift is just that a gift and can be spend accordingly!!

Paul

[Adam Davies]

Hi
Yes, gifts should not be an issue.
Regards

[Foggy]

If you want to be really picky -- a windfall generally escapes the iVA if it is less than £500. Therefore so should a gift. How many times in your life are you going to get a gift in excess of £500 ?

[plasticdaft]

A gift is just that. If someone gave you £5000 as a gift then it would be hard to argue against keeping it!!

Or are my morals in the gutter?

Paul

[Foggy]

You gutter snipe, you !!!

I believe some lucky people have been given cars as gifts in the past and the IP has accepted it.

Trouble is ( playing devil's advocate) when is a gift a gift ? An inheritance is a gift -- just given by somebody posthumously. However an IP would not agree

[plasticdaft]

Nah,inheritance is just that but a gift from someone living is different,in my opinion.

Paul

[Scimi]

Wow!!! A light at the end of the tunnel!! Lets just say this Christmas I am hoping for a Holiday! Cash in small denominations of £500 and a car. If any of you want to give a bottle of champagne then all the more merrier!!! I am glad to hear the IPs are in good Xmas spirit!!! All I need is a summer birthday and more presents and the IVA will fly by!!!

[andrea1968]

My mum bought me a car when my campervan died, cost 1,500 and I told my iva firm, they said it was fine as it saved having to have payment breaks.