IVA 10% Rule

fish89

Hi all,

I currently have an IVA with Aperture and coming up to 12 months paying £130. I work long hours and find it difficult to contact them. This month I have been paid a significant bonus from my employer and have earned another significant bonus for December.

I appreciate that I must pay 45% of this but I am struggling to get a response from Aperture by email so what do I do?

sourcrates

How substantial a bonus are we talking about ?

A few hundred I wouldn't bother about, if we are talking thousands, then write to them asking how they want to deal with it.

Anything of this nature should be dealt with in writing.

foxy-stoat

Just keep half of anything extra you earn in a seperate account, just incase they ask for it at the next annual review.

DorisTrousers

Whatever the bonus is, nett of tax, you can keep the first 10% extra over and above what you normally earn, the rest you split 50/50. It shouldn't be too difficult to work out, then give them a ring and make a one off payment over the phone.

As an example, if you normally take home £2k, but with bonus you have taken home £2,600, then the first £200 is yours, there is £400 left so you keep another £200 and make a payment of £200. I am old enough to remember the days where you used to have to pay the lot over, which is a bit soul destroying when you think about it, so my own personal opinion is that this is a pretty fair way of dealing with it.