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Posted: Tue Aug 16, 2011 10:52 am
by newbeginnings
Morning all[:)]
I may be in a position to be receiving a tax refund for some fuel allowance i have been owed for the previous 3 years.
As this was all before i entered into my IVA would i have to pay it over - i am aware of the £500 windfall rule - but surely this wouldnt fall into that category?
any advice appreciated.
Posted: Tue Aug 16, 2011 10:56 am
by kallis3
Hi Newbeginnings,
Not sure about this one - you will have to run it past your IP though so they're best place to advise.
Posted: Thu Aug 18, 2011 5:14 pm
by bob.m
Hi newbeginnings........I could be in a similar situation (hopefully!) and would be interested if any of the experts could give further guidance??
Posted: Thu Aug 18, 2011 5:17 pm
by mattyboy
When I got mine I had to hand it over even though it was from before the date the IVA began
Posted: Fri Aug 19, 2011 3:49 am
by MelanieGiles
It will be a windfall if it amounts to over £500.
Posted: Fri Aug 19, 2011 9:00 am
by langerbridge
Hi newbeginnings ... If you are paye for employment & the claim is less than £2000 they have the right to adjust this & or next years tax code. This would result in you paying less tax & therefore receiving you 'windfall' through pay & it would be subject to the 10% 50/50, as long as it's a protocol IVA. If it's a cheque over £500 it's off to your IVA sorry unless HMRC are s creditor.