Notifications
Clear all
Scottish Trust Deed Forum
4
Posts
4
Users
0
Reactions
2,911
Views
Topic starter
04/04/2015 3:10 pm
Hi
I am currently 18 months into my TD. My annual review of income and expenditure is due in June. My self employed tax year has just ended (04/04/15) and I have compiled the accounts for my self assessment.
Rather than wait until June, I would like to complete my income and expenditure whilst I have everything to hand and fresh in mind, rather than go through it all again in June.
Will my trustee let me bring forward the annual assessment?
I expect my payments will increase by quite an amount as a result of business picking up in the last year.
Thanks
04/04/2015 6:43 pm
Hello portway.
Yes - if there has been a significant change in your circumstances it would be a good idea to inform your trustee at an early stage.
Give them a call and they'll tell you what they need from there.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
07/04/2015 9:55 am
Hi portway,
I can't see any problem with this and it makes sense. It's always best to inform your Trustee as soon as possible of any change in circumstances or increase/decrease in income.
Give your Trustee a call and ask to work through the income and expenditure at the moment. They can then calculate if an increase in payment is required and that way your Trust Deed runs to the agreed timescale instead of something like this being picked up later on down the line.
It's good to see you being very proactive! As an advisor it makes our job a little easier!
David is not currently posting in the Trust-Deed.co.uk forum
07/04/2015 10:31 am
If it is likely that your payments will increase then they certainly should send out the review forms now if you ask them. Glad to hear business is picking up, portway.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
