www.iva.co.uk

Hi
I'm due to receive my pay rise at the end of the month backdated about 8 months. It works out about £80 per month extra but obviously the backpay will be more than this.
Is it best to declare to my IP now or wait until my annual review which is due mid-August or not mention it & see what happens at the annual review?
Thanks
x

when is your review due?ahh sorry august well i am no proffesional but i would say a good percentage of it will be eaten up by living costs etc etc and if you were to send half to the ip before your review and you find out your i e have gone up then [:(]i would try and halve it and keep half incase of any nasty suprises from them later on but the experts will be here to advise soon

I would be interested to know what the answer to this is as I had backdated pay about 3 months ago which equated to about £400.00 as they had messed up my wages but I had to pay my parents back as they had been assisting me. Will my IP want this money?? My review is going through now and I had not mentioned it as my wageslips are sent in quarterly.

13th August. I'm guessing they will ask for 50% of this?

petrol increase alone will swallow the £80 up[:(!] !!!!!!!!!!
if your review isnt till august and you use your car a lot what expenses have you put down for petrol in your i + e ??i would think its time to get reciepts for a month or two to back it up

Good Idea, I'll keep receipts until August. Petrol expenses in my I&E from last year were for £100 which have obviously increased as well as food, gas & electricity as we all know ...... I'm just wondering about the lump sum bit, would they ask for half of this?

have you looked in your report as to the wording? is it not anything above £500 like mine?in my opinion i wouldnt class this as a lump sum i have also had backdated payrises another one for you i dont know if it applys to you but before you go offering 50% of anything make sure you are covered at home one of my payrises i got british gas homecare so i am covered for any parts to central heating,water,electric etc because if these fail were do we get the money for repairs also another good one is to protect your iva payments with insurance this benifits both partys and if you come out of work you are covered

Thanks, thats really helpful. My report too says anything about £500 or over but just mentions windfalls & redundancy and this is neither.

the experts will reply soon wait for their response [:D]

Any expert??? Please see my post and SLM's

Expert help please?
Pretty please ... ?

I am kind of in the same situation. I am changing jobs at the end of my maternity leave and will be receiving approx £400 in holiday pay. I too was wondering what I need to do as I reqard this as neither a bonus nor a windfall.

I am not a technical expert but will have a go. What does it say about payrises and rises in income in your proposal. If it says 50% then that is what they may ask for, but as said certain rises may be allowed before they take the 50% so it could in effect cancel itself out. Martha I would say the same as it would be classed as income not a windfall.
Still wait for a technical expert though.

Ang xx

lets jump back to the top

Payrises are generally reviewed as part of the annual review process at which time you have the opportunity to detail any expenditure increases you may be incurring as well.

At this time, however, you would do no harm to inform your IP of the rise, and ask their opinion as to how this will be treated - which at the end of the day will be strictly in accordance with the proposals you have agreed.