from_india wrote:The job location is London. You mean, if it's London it's not a good salary?
The flexible fund 8K, that they provide, is in the form of retail-shop coupons, childcare coupons, petrol coupons, pension, etc., which I can choose as per my needs. This is to save the tax on these items. In short, I will surely get 8K; and this 8K would be non-taxable. The remaining of my salary, i.e. 38K is taxable. Hence the total amount I get in hand after tax is £35,046.
Thanks for your reply!!
It's a decent salary but for me not so good - I would want a lot more for putting up with London....
I can't see how those Flex things work, someone has to pay tax on them somewhere along the line, either the employer does, in which case why not give u cash, or you do, as a benefit in kind.
From any salary I think u can expect to net roughly 65% of gross, so I suspect u looking at 25k in ur hand, or 30k if u can make use of the full 8k.
I could be wrong but I worked for an employer who had a similar-sounding scheme to this and it was let's say, not as described in the interview......
Just remember the tax has to paid somewhere there's no avoiding it. I'm a cynical bastard tho!
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