Is there an easy way off working out the 10%/50% rule on overtime ?

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Neil.dw

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Post by Neil.dw » Mon Apr 29, 2013 12:18 pm
Is there an easy way off working out the 10%/50% rule on overtime.

Is it worked out on my Total income or Fulltime/overtime??
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Foggy

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Post by Foggy » Mon Apr 29, 2013 12:33 pm
If your normal take home pay is 1000 per month ( as agreed in your I&E review), then you are allowed 10% of this, i.e £100.

So, if you earned £150 overtime, you keep £100 (10%) and split the £50 with the IVA ( 50/50). You keep £125 the IVA gets £25.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Foggy

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Post by Foggy » Mon Apr 29, 2013 12:40 pm
Locked as thread being replied to here :
http://www.iva.co.uk/forum/topic.asp?wh ... 056#510852
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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