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sahara
New Member
United Kingdom
51 Posts |
 Posted - 30 January 2009 : 14:46:15
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Hi
This is typical. I have just receieved the biggest bonus in my pay i have ever had. Its for £1300 after tax, this bonus can come every 3 months but is not definate due to targets being met.
My question is, can they OR give me an IPA based on bonuses, i did not get one cause i only had £10 DI. But was wondering if i might get one now cause this bonus is rather large, it is usually only 400 at the most.
i have wrote to them declaring it but am just worried as i dont have much spare and my rent is now going up by £25 a month and gas and elec has gone up by £20. this is where my bonus usually goes on all these extras.
what do you think
worried
Sarah |
Edited by - sahara on 30 January 2009 15:05:51 |
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John
New Member
United Kingdom
73 Posts |
Posted - 30 January 2009 : 15:07:49
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Hi Sarah
when the OR gets back to you on this you should firstly inform him that your expenditure has changed.
I think what will happen is the £1300 will be spread over and added to any given 3 monthly period which with £10 DI already declared, a pending extra claim of £45 (therefore -£35 per month DI)will mean that £1300 divided by 3 ( £433 per month) then your new monthly DI will equate to £398.
On that basis the OR will take 66% per month which is approx £263. (x 3 = £789) leaving you £511 for that same period from the £1300.
The downside is that even though the OR will know that this will need to be reviewed every 3 months because the bonus varies, you are likely to get a 3 year IPA.
For future bonuses and using the same calculation this would mean that any bonus's above £405 after tax would require a payment to the IPA. Anything less you should in theory keep.
Sorry I couldn't be the bearer of better news. |
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sahara
New Member
United Kingdom
51 Posts |
Posted - 30 January 2009 : 15:15:10
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Thanks john
I have not told them that is is over a 3 month period as i dont know what is happening as regards to bonuses as we have just had new management come in, All i said was if i get anymore bonuses i will let them know.
In the letter i have put that my gas,elec and rent have gone up and that i have also just got a £300 vet bill as the dog needed an op. |
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John
New Member
United Kingdom
73 Posts |
Posted - 30 January 2009 : 16:25:11
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Hi
I believe that on sending a copy of the vets bill the OR will allow that against expenditure in full.
Just reaffirm that the bonus varies and is not per month.
All the best Sarah |
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indy2005
Junior Member
458 Posts |
Posted - 30 January 2009 : 18:59:42
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Hi,
I had an interview today for a BRO/BRU and asked about bonuses at the end. He told me I would have to declare the one I got this year as it was received before BR, but next year I wouldn't have to. That's from a senior examiner. I questioned this as I saw it as income (IPA linked) and not an asset, but that's what he said.
I am confused.
Regards
i |
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sahara
New Member
United Kingdom
51 Posts |
Posted - 30 January 2009 : 19:18:43
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Thanks john. I have an invoice from the vets. we have been told today that there is no pay rise this year so it looks like the bonuses will be next. So hopefully it will mean no ipa. I just want for this BR thing to ens so i can get on with my life debt free.
Iandy2005
How was the interview, i hope it was ok, they are trying to give me a BRO. Its all so confusing. |
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indy2005
Junior Member
458 Posts |
Posted - 30 January 2009 : 19:38:34
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quote:
How was the interview, i hope it was ok, they are trying to give me a BRO. Its all so confusing.
Interview was OK. Looks like I am going to get 4 years with a BRU, but he is writing to my doctor to confirm I saught medical advice about my gambling. Hope it goes in my favour, because it was a horrible addiction. |
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sahara
New Member
United Kingdom
51 Posts |
Posted - 30 January 2009 : 19:59:25
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Glad it was ok, best of luck.
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Bouns question
