Declare small windf...
 
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Declare small windfalls?

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(@mummy2twins)
Eminent Member
Joined: 13 years ago
Posts: 43
Topic starter  

Is there a set amount for windfalls that need to be declared or should trustee be advised of everything even small lottery wins for example?

final payment 1st May 2015


   
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(@boys1211)
Estimable Member
Joined: 15 years ago
Posts: 144
 

Hi

Don't quote me but the figure £250 kind of rings a bell??? Sure one of the experts will tell you for certain !!


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 17 years ago
Posts: 13594
 

Hi mummy2twins.

How much is it?

Probably best to tell your trustee so that everything is out in the open I'd have thought.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@saabrina)
Estimable Member
Joined: 14 years ago
Posts: 148
 

Hi
I had the opportunity to earn extra this month, £300 before tax. I sent an email to ask if I could keep this or would I have to hand it over. The reply came too late to take up the offer, but I have had it confirmed that if the opportunity were to arise again for a similar amount I would be able to keep the money. I was told that if it was an occasional thing it would be fine (first opportunity in 10 months, so won't hold breath for another lol) but if it was regular then they would look at taking part of the money. Fair enough. It's best to discuss these things with your trustee if for no other reason than to build trust that you are open and honest about your finances

Saabrina


   
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(@mummy2twins)
Eminent Member
Joined: 13 years ago
Posts: 43
Topic starter  

It's only £21.76 from the lotto run by the local football team but was just thinking in case I was lucky enough to win something small on the main lotto or euro millions (only 1 number last night!)

However I did presume the £3.30 I won a few weeks ago would be safe! [:D]
This is as lucky as I usually get lol

final payment 1st May 2015


   
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David Tannock
(@david-tannock)
Famed Member
Joined: 12 years ago
Posts: 2581
 

Hi mummy2twins,

It's all about trying to find a balance when it comes to things like winnings, overtime, bonuses etc.

Small winnings like the one your talking about I don't see a problem with so you dint need to worry. If your winnings start creeping up into 3, 4 or 5 figure sums then I think a quick call to your trustee to discuss this would be a good idea. Every Trustee is different and has a different view point on this. Some can be fair and understanding with a little more flexibility and some don't seem to be like that.

As saabrina has said when it comes to a little bit of overtime here and there it shouldn't be a problem. People are already working to a tight budget with little or no access to credit to fall back on and from time to time unexpected expenses do crop up. If the overtime becomes regular then things would need to be reassessed and an increase in payment may be likely for that period.

David is not currently posting in the Trust-Deed.co.uk forum


   
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(@sparky1)
Reputable Member
Joined: 12 years ago
Posts: 277
 

I declared my overtime payment which was around £350 and I got to keep it, I explained it was a one off payment due to absence in my workplace.


   
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