www.iva.co.uk

Hello. I occasionally receive overtime payments as a lump sum (six months overtime paid at once). When spread over the six months, the amount I earn does not take me over my 10% threshold. Do I have to pay the 10+50/50 rule for this - not technically a lump sum but paid as such?

Many thanks, J

Hi -- the overtime, if paid in a lump will still come under the 10% 50/50 rule, but, if it was paid monthly you would have to hand over less to the IVA, as you would get the 10% deminimis every month. On a 6 month lump you will only get the 10% once

How unfortunate its paid this way

Why can't your employer pay you monthly, as is the norm with most employers? Is there anything in your contract of employment which covers the timing of payments?