Offer accepted!

timberflake

I've just had a F&F offer accepted on my IVA!!

The offer was £1,650.00 together with Dec, Jan and Feb's normal contributions.

Question though. In Feb's pay packets I received a bonus - an additional £550 (after tax). Will I therefore still have to give them 50% (£275)? Or does the fact that they have accepted my offer in F&F get me out of having to cough it up?

Charco_2

A well worded Full & Final proposal would exclude this!

So the answer is you SHOULDN'T have to pay anything more than you have offered in the F&F but it depends on the paperwork.

(Good question so I spoke to one of our IPs about it!)

Little debate over whether it would have constituted a WINDFALL and therefore might be subject to scrutiny.

The long and the short of it however is that the answer would be in your proposal and the TIMING of the bonus - I wouldn't bother to bring it up with your IP, no need to draw it to his attention BUT if it has been accepted as a F&F then it shouldn't matter if you won the lottery!

timberflake

Thanks Charco. I'm waiting for my paperwork to come through so hopefully it will be air tight.

Say for arguments sake though it doesn't come up in the paperwork and we sign it and send it back, do they then have the right to ask for my pay slips and then ask for half of the bonus?

Charco_2

I would say no, the point is you've offered a Full and Final and it's been accepted... there was nothing conditional about it. So long as you make the F&F payment it should be done and dusted