www.iva.co.uk

This might be a silly question but given my current state of confusion I'm gonna ask it anyway. If you get a birthday or christmas present of money, is this classed as a windfall or are we allowed to spend it on pretty things?

If it's a modest gift you will be allowed to keep it, a substantial amount would need to be declared and your IP would advise as to it's fate.

yeh so if it's less then a million shhhh! keep it under the bed...

We have cash from my parents for both birthdays and Christmas but it's not a lot of money and I don't declare it.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by sponge

yeh so if it's less then a million shhhh! keep it under the bed...

More than a million makes the bed lumpy (so I am told!).

Definately not a windfall, so worry no longer - remembering of course that there is usually a £500 benchmark before windfalls become windfalls in any case

thanks all ... A relief to be sure

I just wondered why a monetary gift wouldn't be classed as a windfall?

Thanks!

Bear in mind that most IVA's these days allow for a £500 windfall. I doubt the vast majority of us would get birthday and Christmas money amounting to that much.

My own monetary gifts at this time are in cash, way under that limit so I don't see any reason why I should trouble my IP about it.

I'm sure that if it were to be classed as a windfall then we'd be telling relatives to get us either vouchers or something we wanted.

Mine have been way under the £500 mark ... and I've been saving them in a pot for something special

Don't blame you!!