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Keeping my tax rebate

Posted: Sun Jan 26, 2020 3:55 pm
by jade176
Due a tax rebate this year
Was thinking on opening another bank/savings account and have it paid into that.
It won’t be thousands but a few hundred I would rather not pay into my Iva .

Re: <t>Keeping my tax rebate</t>

Posted: Sun Jan 26, 2020 5:28 pm
by Foggy
You might "rather not" pay it into the IVA, but you should not hide it either. If discoverd later on they could fail the whole arrangement.

Re: <t>Keeping my tax rebate</t>

Posted: Sun Jan 26, 2020 8:48 pm
by luluj
Sorry but this will need to be declared to your IP

Re: <t>Keeping my tax rebate</t>

Posted: Sun Jan 26, 2020 10:18 pm
by kallis3
It will need to be paid across.

Re: <t>Keeping my tax rebate</t>

Posted: Mon Jan 27, 2020 6:09 pm
by recovering
I was allowed to keep a tax rebate as it was dealt with under the windfall,clause and was under ;£500

Re: <t>Keeping my tax rebate</t>

Posted: Mon Jan 27, 2020 6:25 pm
by jade176
Thanks guys
Checked my paperwork today re the £500 windfall clause.
I’m due about £450
So hopefully I will get to keep it

Re: <t>Keeping my tax rebate</t>

Posted: Mon Jan 27, 2020 6:34 pm
by Foggy
It depends on the view your IP takes. As Recovering has said, some have been allowed to keep it, being dealt with under the windfall clause. However, some IP's have taken it as income -- the arguement being that, if assessed correctly at the time, the extra take home pay would have increased your disposable income and, therefore, been paid to the IVA. Of course, this premise is doubtful if the income the rebate relates to is wholly pre-IVA.

As with many things IVA - it is in the lap of your IP.

Re: <t>Keeping my tax rebate</t>

Posted: Mon Jan 27, 2020 10:02 pm
by kallis3
You will need to let them know.