Tax Credit over payment

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tbsk06

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Post by tbsk06 » Wed Aug 22, 2012 8:11 am
HI
We were granted our IVA in May and HMRC was one of my creditors as Im self employed. I received a letter from the debt managment place at Worthing which I sent to my accountant for my self assessment etc but today I received a letter from WTC and CTC about £900 of overpayment they need back as we are no longer eligible. I vaguely recall what was included in the HMRC letter regds what can be claimed for can I include the £900 overpayment or this that separate to tax and NI? WE allowed £2220 debt but we have just finalised last years tax allowance and it is £330? Sorry if I have made this straightforward. Thanks
 
 

tbsk06

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Post by tbsk06 » Wed Aug 22, 2012 9:00 am
i meant "havent made it straightforward"[:I]
 
 

Michael Peoples

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Post by Michael Peoples » Wed Aug 22, 2012 9:11 am
This depends on what correspondence you have received from HMRC and you need to notify your IP. If the overpayment was included in the figures and you received your Final Award Notice [F.A.N] before the IVA was approved, then the debt is included in the IVA. If the F.A.N. was issued post IVA then the debt is post IVA and needs to be paid.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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