Notifications
Clear all
Scottish Trust Deed Forum
4
Posts
4
Users
0
Reactions
1,508
Views
Topic starter
12/08/2013 5:35 pm
My employer has told me today that I am going to be paid in lieu of the holidays I wasn't able to take over the last year.
This is going to be about £1000, and is due to hit my bank account at exactly the same time as my 36th trust deed payment.
As it is still within 36 months, is technically 'overtime' pay, I guess I need to report this to my trustee?
What sort of %age would my trustee take of this, and would it hold up my discharge?
I wouldn't expect anybody on here to encourage me to do anything dodgy, but as I have already completed my final review, would there be any possible repercussions if I kept quiet about this?
It sticks in my throat to think I have worked for so long without a break just to give it all away!
12/08/2013 5:48 pm
Hello amorphous.
There's no black and white answer about what will happen. It will depend upon whether there's any agreement about extra income such as this and, if not, the view that your trustee takes about it. I'm guessing that this will be seen as income rather than a windfall (one of our experts will confirm).
We'd obviously encourage you to stick to the terms of the trust deed. The potential consequences of failing to do so at such a late stage seem way out of proportion with the possible benefits?
Now, if it is seen as income and if your employer were to decide to pay it a month later...
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
12/08/2013 5:49 pm
Hi amorphous
I suppose it depends what was agreed at the start.
I have to agree with you that you never took holidays, so should be entitled to the money as its not overtime or bonus as such.
Normal process once the final payment is made would be to wind up the trust deed as no further reviews are required.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
12/08/2013 8:07 pm
How good is your relationship with your employer? As TDA says, couldn't you persuade them that you don't need this payment until the month after your final payment?
