www.iva.co.uk

My last question - honest- - re HMRC

I went into the IVA in Nov 2013 with a debt of 104k My accountant tells me that my tax bill for 2014 (which forms part of a claim in the IVA) is going to be about 5.2k higher than expected. The revenue debt was 33,800. This is because I had to account for a bill in my figures that in fact was not paid in full for two years after billing will a variation of 5k by one of the claims in the IVA put the IVA at risk. Will a variation be needed? or is a 5k variation in relation to an overall deficit of 104k within tolerance?

This is not unusual and nothing to worry about. It is within the 10% level of breach [which we often remove anyway where there are HMRC debts] and unless there was a minimum dividend specified this should make no difference at all.

Hi

I would imagine that many IVAs proposed with tax debt are likely to have figures that change so I would not be too concerned

Regards