Self employed with slightly variable income.

FixitM

Hello. I wonder if anyone has any experience of how often the OR will review a self employed person with slightly varying weekly income, for proposed IPA purposes please?

mwarby

Is the level of variance known ?

I think the OR would want to average it out over a month or 4 weeks. If variance is seasonal the i&e would probably be done each time the monthly average changed by a significant amount

FixitM

It fluctuates by around about £30 per week, up and down. After my husband changed jobs he wanted to base the income and expenditure on 2 months earnings. He has just over 5 months left until potential discharge.

KeepOnKnitting

When I was bankrupt my OR asked me to report back every 3 months about my variable self-employed income. I was discharged in November. To be honest they kept forgetting to contact me, so it was nearly 6 months before I had to give them my first statement of earnings. My income was too low for an IPA though, so YMMV.