Income Payments Order Questionairre

Standuptotheman

I have been asked by the OR to complete an income payments order questionairre at end of each month for a 3 month period to enable the OR to assess what I should pay on a monthly basis. This questionairre asks for my normal monthly take home pay and then essential outgoings in a similar form to the SOA list of outgoings. However, I am self employed and although my monthly take-home income does vary, I will obviously put down what I could afford to pay myself each month after allowing for tax, NI and business running costs.

My question is: Does the OR just want my take home pay and essential personal outgoings such as housekeeping, gas, electric etc detailed on the form or do I need to go into the finer points of what costs my self employed work incurred as part of running my business such as postage, stationary, professional fees etc? The form is a very simple 2 pager and does not really allow for much detail at all if you are self employed.

Appreciate any advice

Raphael

Standuptotheman wrote: »

I have been asked by the OR to complete an income payments order questionairre at end of each month for a 3 month period to enable the OR to assess what I should pay on a monthly basis. This questionairre asks for my normal monthly take home pay and then essential outgoings in a similar form to the SOA list of outgoings. However, I am self employed and although my monthly take-home income does vary, I will obviously put down what I could afford to pay myself each month after allowing for tax, NI and business running costs.

My question is: Does the OR just want my take home pay and essential personal outgoings such as housekeeping, gas, electric etc detailed on the form or do I need to go into the finer points of what costs my self employed work incurred as part of running my business such as postage, stationary, professional fees etc? The form is a very simple 2 pager and does not really allow for much detail at all if you are self employed.

Appreciate any advice

I'm self-employed too, I use business profit as my income, ie. after all business-related expenses have been taken out. In the expenditure I only put down my personal expenditure. They can ask to see your books separately.

Standuptotheman

Thanks Raphael, that is what I thought but good to have someone else's opinion. Have they ever asked to see your books and if so is it shortly afterwards?

Raphael

Standuptotheman wrote: »

Thanks Raphael, that is what I thought but good to have someone else's opinion. Have they ever asked to see your books and if so is it shortly afterwards?

They haven't so far. At the interview (which was shortly after the end of last tax year) they asked if my accounts for the year 2009-2010 were ready, I said not quite finished yet but could be soon if needed, they said that was fine and they never mentioned it afterwards. They might just wait till the end of the tax year or closer to my discharge date to see the ones for the current year, not sure, I have to prepare them as I go anyway so I can update them on my actual income every month. Also, worth bearing in mind I'm in Scotland so they might be more / less demanding elsewhere in the UK.