www.iva.co.uk

Hi One and All!

I was just wandering about Xmas bonuses. In my working life the bonus I receive at this time of year varies dramatically. For instance, last year I received a hamper and the year before £25 but the year before that £500!

My question is, is 50% still the amount to pass over to you IVA regardless of it being £20 or £1000?

Many thanks

Shanks

If this is paid as part of your wage then it is likely to be treated as income and be captured under the 50% clause so you would be able to keep 50% for all amounts, subject to keeping the first 10% if this is relevant in your case. If you get goods such as a hamper then this should not be considered a windfall by your IP.

Ok that makes sense, thanks very much

read your chairmans report all cases are different in my case anything over £500 after tax i am to split 50/50