www.iva.co.uk

Ok, let me set the scene. Ok so lets say somebody comes out with £1500 a month basic. However they do regular overtime and earn an extra £100 per month this being less than 10% extra per month and therefore dont need to declare to the IVA company/creditors. Assume this happens for 12 months this means this person earns an extra £1200 a year that neednt be declared. However, take my situation where i am salaried and dont get overtime. Lets says though i get a 8% pay rise per year i then have to declare this on my annual review and this is then taken into account towards my new disposable income. Hows that fair that somebody can work overtime and get extra without declaring but those who dont but get a pay rise have to.

Fairness doesn't come into it --- you simply abide by what has been agreed. Overtime isn't guaranteed and it would be disaster to factor it in to regular payments. A pay rise is guaranteed and, between getting the rise and your review should be all yours (subject to the agreed terms), so you get some leeway.

Declare all earnings and let your iva company keep you right. Not sure about non declared earnings. Seems a bit like putting worms in a can to open later on.

Paul

Cheers for the responses. Might be better off asking company NOT to make payrise but to pay the what would have been payrise as a monthly bonus therefore not having to declare it as it would be less than 10%. With regards to declaring the income i am fully adhering to the T & Cs of the IVA and it does clearly state in my terms that i only need to declare if i receive monies (from employment that is) equal to or greater than 10% so i dont need to declare the bonus. However the bonus does change so if it does go over 10% than i will declare obviously.
Cheers guys

If the company will play ball that might work. Be careful you don't get caught out though as the further you go on the more disasterous a failure would be.

You are lucky that the bonus is paid monthly. Keep all your payslips as proof as your IP may query this from your P60 at your annual review.

boobydavro it is even worse for annual and monthly bonus'. You could get the £100 per month and pay nothing accross but if you get the £1200 as a lump sum as a once a year bonus you pay a load across. I am paid monthly but get an up to 8% bonus every feb (hopefully) and have to pay a load across if I was given it monthly nothing would be paid across. Its swing and roundabouts.