Hi, went BR in September and will be paying an IPA (hasnt started yet). At Christmas my employer usually gives me a bonus through my wages. Presumably I need to inform the OR if this happens, do you know if I will lose all of it or a percentage.
yes you do need to tell the OR and i would say he will take a % of it but depending on the value of it in the first place at to whether the OR is bothered to collect it in the first place
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) RevivaUK helped me through it all i can't recommend them enough!!
My pay increased by £90 this year and I informed the OR of this. My initial IPA payment was £261 per month, but when I sent them a letter informing them of the increase and also that my pay would decrease later in the year due to travel cost increases, they reassessed my IPA and I now pay £241 per month. Not sure how they came to that figure to be honest, but I don't think I'll question it too much. I may need to contact them again as my financial situation has changed yet again, for the worse I'm afraid. I am cautious about doing it again so quickly though as I don't want them to think I am trying to avoid paying so much for the IPA. I am quite happy to pay the amount I've been paying so far, but I really don't want to have to live on the breadline for the next 3 years if I can help it.
Last year it was £1000 gross less tax & Ni of course. Year before it was £500. Ive worked so hard for it because of the debt I was doing more but now I will lose it I guess.
if the OR sees it as a windfall they might keep all of it, but if it is classed as income they should only take a % of it. so fingers crossed for you
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) RevivaUK helped me through it all i can't recommend them enough!!
Bonus from employer
Posted - 17 November 2009 : 11:44:55
