LTADT. Limited information?

Noodles78

Can anyone help me please?

I have received a letter from the IS informing me that my file is to be passed onto the Long Term Asset & Distribution Team (LTADT).
I have found only two posts relating to this but these are a little bit limited about who they are and what their involvement is in the Bankruptcy process?

1) Is this to do with my Nil Tax IPA coming to an end?

2) If so, then what happens? Do they review my Income & expenditure/SOA again for another IPA?

My AD is not till Septemeber 2014 so little worried why this has come about so early on in the process.

Any advice would be appreciated?

TheGardener

Hi - nothing to worry about - it just means the OR has finished their investigations and all that's left is for the Long Term Asset & Distribution Team to collect the remainder of your NT IPA and distribute whatever assets they have realised out between your creditors. You probably won't hear from the OR again - should be plain sailing now to your AD :beer:

...but don't forget if there are any changes to your financial circumstances between now and AD, you have 21 days to notify your OR...

Noodles78

Hi Gardener.

Glad you replied as I had noted you mentioned having received this letter also on a previous post.

I have no assets apart from the Nil Tax IPA Contributions.

So is that the OR finished with me as such? Do they not assess you again before AD?

As for the change to my financial circumstances. No change to my income but my expenditure has increased slightly due to changes. (Insurances, petrol, etc, etc) Therefore more of a deficit to what is on my SOA. Managing to substitute some of my other expenditures to cover the extras (but is very tight) & family are helping out if & when needed. Does the OR really want to know I'm a little more skint than when I filed for bankruptcy.


Surely they are only interested in increases to income?

fermi

The specifically stated legal duty under the IA1986 is to inform of increases of income, yes.

You also have a general duty to comply with their reasonable requests, so if they have requested you inform them of other changes then you also have to do that.

Otherwise it's up to you.

Noodles78

Hi fermi.

Thanks for the reply. No change in income or in the seeable future & the OR never mentioned anthing about informing them about any other changes. I even mentioned that i can get some overtime now & again & they said they weren't interested unless this was a regular significant amount.