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Scottish Trust Deed Forum
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Topic starter
15/02/2010 3:27 pm
Hi,
I've just found out that the date upon which my company pays its annual bonus is changing from 15th April to 31st March.
Last year I received an annual bonus (paid on 15th April 2009) and after a bried discussion with my IP it was agreed that I could retain all of the bonus due to it already being accounted for in my monthly payment. My hope was that the same situation would take place again this year, however assuming I do receive a bonus, it will be paid on 31st March 2010, which is still within the same financial year as the last one.
I'm wondering what implications this may have for my Trust Deed, as effectively I will have earned more than was originally anticipated during the 2009/10 financial year.
What worries me is that this might be treated as a second bonus within the 2009/10 financial year, and therefore my trustee may decide to take some or all of it from me. Obviously I am looking at this from a biased viewpoint, but I feel this would be rather harsh.
Anyone got any thoughts on this?
Thanks.
15/02/2010 3:48 pm
Hello imcville,
I'm sure the experts will have their views on this soon. I'm wondering if the date that your Trust Deed runs from might be more important that the dates of your payroll year.
What month did the Trust Deed start?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
16/02/2010 4:56 pm
Hi TDA,
My Trust Deed began in June 2008, so from that point of view the bonus I received on 15/04/2009 fell within the first 12 months, and any bonus I receive on 31/03/2010 would fall within the second 12 months.
It would be very handy if this is the way my IP chooses to look at it!
16/02/2010 5:14 pm
I am sure there will be no problem imcville - whether it is just before or after the end of the financial year shouldn't make any difference whatsoever.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
