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Posted: Sat Jul 18, 2009 12:24 pm
by cva
I need to change jobs due to changes in the terms and conditions, but will need a company car in new job which will affect my tax code and obviously the amount I could contribute to my IVA.
Has anyone else had this type of change and how was it dealt with?
My new salary will increase by 1.5k but my new tax coding will affect my contributions significantly
Posted: Sat Jul 18, 2009 12:57 pm
by plasticdaft
Best to talk to your IP about this as soon as you can,especially if contributions are to be affected.
Posted: Sat Jul 18, 2009 2:41 pm
by Michael Peoples
If your surplus does decrease as a result of the company car you could offer to sell your existing vehicle and introduce the funds to address any shortfall.
Posted: Sun Jul 19, 2009 9:31 pm
by Adam16
What car are you getting as a company car? I cannot imagine many company car tax charges being in excess of my £1.5k.
Bear in mind my your tax code drop is the gross amount
I.e as a lower tax payer, if your tax code drops by £1,000 you pay £200 more tax a year.
Posted: Mon Jul 20, 2009 8:37 am
by Debtwitch
Your IP may have some alternative options for you. As they have more background detail, they'll be best placed to speak to you and if they're any good, they'll also have formed professional partnerships and be able to access more advice other that the insolvency that they're a specialist in.
Speak to IP as soon as you can.
Posted: Mon Jul 20, 2009 5:02 pm
by kallis3
Always best to speak to your own IP rather than take general information from here when you have specific questions.
I hope you get somethin sorted out, and let us know how you get on.