Trag,
Here are some numbers for you based on the latest 2004/5 tax tables:-
Gross income £50,000 PA £4,166.67 PM
Tax Free All £ 4,745 PA £ 395.42 PM
Taxable Inc £45,255 PA £ 3,771.25 PM
Tax to pay £ 12,208 PA £ 1,017.30 PM
Nat' Insure £ 3,151 PA £ 262.62 PM
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Net Income £34,641 PA £ 2,886.74 PM
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For an additional sum of £5000 in allowances, basically deduct tax at 40% of this sum. Many companies have arrangements with the revenue whereby only a portion of this sum is taxed.
so expect a net figure of £250 per month or better.
for your partner you give a salary range but assuming a mid point of £1750 per month the figures are as follows for 2004/5 :
Gross income £21,000 PA £ 1,750 PM
Tax ree All £ 4,745 PA £ 395.42 PM
Taxable Inc £16,255 PA £ 1,354.58 PM
Tax to pay £ 3,334 PA £ 279.81 PM
Nat'Insure £ 1,789 PA £ 149.12 PM
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Net Income £ 15,877 PA £ 1,323.07 PM
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You can reasonably expect a net family income of around £4,460 per month or better.
Cost of living is of course highly subjective. Points to bear in mind though :
Pension/retirement fund.
This is often a contributory scheme. some are based on years of service and a percentage of final salary. These schemes are being phased out by many employers (as too costly). Where they do exist contributions have risen in recent years and expect to contribute around 10% of basic salary. Other schemes are employee risk based schemes normally linked on stock market performance and are funded by the employer and the employee. Again very variable but expect a contribution of between 5 & 10 %.
Health insurance.
The state health service although "free" is notoriously oversubscribed and slow. delays for anything other than emergency treatment are often lengthy. Private health insurance results in fast treatment in comfortable surroundings. Many schemes are available and premiums are naturally age/health and cover dependant but budget around £400 per annum for cover.
Housing.
this varies throughout the UK but based on the Southern UK outside of London expect to pay for a newbuild house around £200,000 for a 2 bed rising by around £60,000 for each additional bedroom. Mortgage rates in th Uk are varied and plentiful. Rates are often discounted for new business. Expect to pay around 4.75% - 5.25% currently. long term fixed rates are not common in the UK. Most fixes are for 2,3 or 5 years. Rental properties are widely available. Property taxes ( council tax) varies from region to region and is based within a banding structure on the value of the property. It tends to cheaper than in the US. Expect to pay £1500 - £2300 per annum for properties in the south of the UK.
Utilities.
It might come as a surprise but these tend to be cheaper than in the US and notably so.
Motoring.
An average car (Ford mondeo) is around £14,000 new. A smaller economy car (Ford fiesta) around £9,500. Road tax ( licence fee) is around £160 per annum ( may be cheaper for low emisson vehicles with small engines). Insurance on a comprehensive cover basis (all risks) varies depending on the vehicle and driver/s but averages around £400 per annum. Petrol (Gas) is highly taxed. Prices have a regional variation but average £0.79 per litre. ( around $5.70 per us gal).
Food.
Some of it is dearer some is cheaper than the US. The end bill will be very subjective but probably wont come as a great shock compared to the US.
Local taxes.
Sales tax in the UK is called Value added tax. For most things it is levied at 17.5%. some things are exempt such as food ( not in restaurants ) and childrens clothes, as well as books and newspapers etc . Unlike the US, this tax is included in the displayed price for nearly all goods purchased. Services such as plumbing repairs or car servicing etc.will normally add the VAT on to the price quoted. So even though prices displayed will often be higher than the US there is no additional 8-11% to add on at the checkout.
Hope the above is some help. I used to work for the UK Inland revenue (IRS) and have owned property in both the USA as well as the UK.