www.iva.co.uk

When my usband does over time, do they take all of the over time or 50 percent of the over time.

Hi Lisa. It will depend on the wording of your husband's IVA proposal. Usually it is either a 50/50 split, or some are allowed the first 10%, then split the balance 50/50. However, it wouldn't surprise me if older agreements want the lot !!!!

Have a look at the proposal, it will be set out there.

Have a re-read of your proposal as the answer will be in there. If you're still unsure your IP will be able to clarify for you.

i did that my proposal said creditors ensure that 50% of additional income is paid +25% +vat is payable my actual iva said rising as per original proposal and in occordance with review ( smoking) so why is my ip saying they will take 100% of the over time

I have not heard of VAT or an extra 25% being paid on your overtime payments before. Is it you that is in the IVA or your husband?

That is a strange one, my IVA takes a straight 50%

kallis3 wrote:

I have not heard of VAT or an extra 25% being paid on your overtime payments before. Is it you that is in the IVA or your husband?

both me and my husband are in an iva together but its my husband that will be doing all the overtime for nothing

Which company are you with? I've not heard of this before at all.

Hi, I would speak to your IP again with your paperwork to hand and ask them to show you where exactly it says you pay 100% of overtime to the iva. Could it have been a modification in the chairman's report or at a variation meeting (if you've had one)? If you do have to pay 100% at least you get the satisfaction of knowing your are repaying more. x

Ours is just a straight 50/50. Good luck and let us know how you get on

Must admit that I was expected to pay across 100% of overtime there is no way I would do any!

thanks everyone for your advice

There is clearly some confusion here - VAT is not relevant to uplift payments in an IVA.