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Lost
Just Joined

1 Posts

Posted - 20 Jul 2012 :  13:06:48  Show Profile  Reply with Quote
Am going ahead with an IVA in next couple of weeks but do not want employer to know as they are looking for excuses to let people go right now. Someone said that my tax code might change after IVA starts. Can you confirm whether this is something to worry about please?

Beverley Budsworth
IVA Expert



311 Posts

Posted - 20 Jul 2012 :  13:33:51  Show Profile  Reply with Quote
Hi Lost

On the assumption that you are employed and do not owe any money to HMR & C, there should be no change to your tax code.

HMR & C will not inform your employer. However, your employer could find out by searching the insolvency register once your IVA is approved as your IVA has to be be registered with Business Innovation and Skills who maintain a register of all IVA approvals and completions.

Have you checked your employee contract/handbook to see if there is any mention about your employer undertaking annual fit and proper checks which could include a credit search against you which would also pick up that you are in an IVA. Companies in the financial industry sometimes do carry out these checks and it is just as well to check before you enter the IVA?


I am an Insolvency Practitioner handling IVA cases. To contact me about starting a IVA please:   ???
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