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Posted: Thu Jul 31, 2008 12:51 pm
by mye
Hi,
IF I RECEIVE A WORKS ANNUAL BONUS DO I HAVE TO PAY A PROPORTION TO MY IVA COMPANY?
Posted: Thu Jul 31, 2008 12:52 pm
by Lisa2009
I suppose it would all depend on the wording in your proposal. It usually explains about winfalls, bonuses and overtime in there.
Posted: Thu Jul 31, 2008 12:57 pm
by luluj
I get to retain the first 10% of my net take home pay and the 50% of the remaining example
Bonus is £315 after tax
Net Take Home pay is £1650 per month = 10% = £165
£315-£165 = £150
Split £150 between you and the IVA = £75 to IVA !
Posted: Thu Jul 31, 2008 4:22 pm
by northumbrian69
I received an annual bonus in April, I had to pay 50% of the net bonus into my IVA, I was allowed to keep the remaining 50% which I put to good use.
I was pleasantly surprised when my IP told me I could keep half, contact your IP for clarification but I believe annual bonuses are classed the same as overtime.
GOOD LUCK [:)][:)]
Posted: Thu Jul 31, 2008 5:45 pm
by Kazzy E
Hi Mye, welcome to the forum. My IVA has the 50% clause in as well so anything over the 10% we earn on our net pay, we will have to pay 50% of the balance to our IVA. Hope this helps.Kazzy x
Posted: Fri Aug 01, 2008 9:06 am
by indebtforever
it will tell you in your report what you have to pay but most are 50/50 for bonuses
Posted: Fri Aug 01, 2008 11:35 am
by mye
Yes ,I have found out from my IVA I will need to pay 50/50 of any bonuses!
Many Thanks All of You!