www.iva.co.uk

Hi.
I recently changed energy suppliers and now pay quite a bit less per month. Do I benefit from this saving or does this need to be amended on buget form for the annual review?
Thanks

Hi,

You will need to tell your IP about this at annual review time. You may find that other outgoings have gone up so you might benefit from it.

Yes you would if those savings increase your surplus then you should keep half the saving.

Hi, I always try to keep my outgoings as light as possible and any savings made to me had to be declared at review time. However, as Kallis says one can often outweigh the other as some go up and some down.