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Hmrc ?

mother_hen_2
mother_hen_2 Posts: 461 Forumite
in IVA & DRO
Does anyone know if during the period of the IVA you can 'offset' the IVA payments against your tax returns (set-off of payments)- no idea what it means but its worded that way in our proposal?

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  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    mother_hen wrote: »
    Does anyone know if during the period of the IVA you can 'offset' the IVA payments against your tax returns (set-off of payments)- no idea what it means but its worded that way in our proposal?

    Do you mean can you pay you debts off using untaxed income if you've entered into an IVA?
  • rog2
    rog2 Posts: 11,650 Forumite
    10,000 Posts Combo Breaker
    mother_hen wrote: »
    Does anyone know if during the period of the IVA you can 'offset' the IVA payments against your tax returns (set-off of payments)- no idea what it means but its worded that way in our proposal?

    Your Insolvency Practitioner would be best placed to answer this question.
    I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
    If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.

    HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7

    DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
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