Hi All. I hope we've all got our heads above water! I'm half way through my IPA and things settling down a bit, thank God and good advice! I've just moved house and got a new job so I've just sent off my IPA assessment forms and would like to know how much you think I would expect to pay. Previously my disposable income was judged at £1300pm with expenses of £930. they took 65% of the £370 (£240,leaving £130 for me). Now my disposable income is £1020pm with £820 expenses. Thanks for any estimates
An IPA is calculated on a sliding scale with payment from 50%-70% depending on the amount of disposable income.
If you have enough disposable income for an IPA the OR will confirm the amount rather than you making an offer. You can dispute this if you don't agree however. As far as I am aware all disposable income is included in the calculation.
If you have a look at my blog there is a table showing the amounts you could expect to pay - it's not set in stone (the figure I pay isn't on there) but it will give you a rough idea.
I must have a strange trustee as they have said that i am getting an IPA and asked me to make an offer to what i consider appropriate, they will obviously have final say.... do you think they will except 2 shirt buttons ! (shirt already gone)
Thanks guys! My previous IPA was manageable so I'm hoping the new one will be too - I'm guessing at about £100 max which agrees with Skippy's table. Fingers crossed, as always, tho! Thanks again and good luck to all.
Effect on IPA of new Income/Expenses
Posted - 21 May 2010 : 11:45:18
