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IPA question

zippyspice · 2008-02-04 14:54:19

I became a BR in june 2007. as i have excess income i agreed with my trustee to contibute to an IPA. my income changes on a monthly basisi due to commission but should i still have a fixed amount agreed? at the moment he wants me to calculate the tax and then a variable amount myself each month. also am i under any…

Comments

fermi Posts: 40,542 Forumite

4 February 2008 at 10:23PM

Nope. Can't find it at the moment.

Although, re-reading those parts of the Insolvency Act 1986 and Enterprise Act 2002, it is very clear that the Trustee (whether that is the OR or an external Trustee) is required to have an IPA/IPO in place before they are entitled to make a claim against any surplus in the bankrupts income.

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