PPRuNe Forums - View Single Post - The CTC Wings (Cadets) Thread - Part 2.
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Old 14th Mar 2007, 21:34
  #327 (permalink)  
globalste
 
Join Date: Mar 2007
Location: London
Age: 45
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2000 per month in your pocket after tax, NI and pension is roughly equivalent to £33k salary.

If youre on £24k (the alleged going student pilot rate) then you will be going home with around £1500 per month.

Student loan is taken automatically from your pay packet before it even hits your bank so you will come home with around £1350 per month (depending on what your loan is)

If you are considering buying a house when you get back, a £110k mortgage interest-only will cost you around £450 per month or £650 capital repayment, so you will be left with no more than £900 per month to spend on living. Anyone who considers paying back more than the minimum per month may want to think again, also may want to consider renting a room to your fellow cadet mates!

As for renting a house when you are out of the UK, this means you are liable to on earnings and AFAIK, CTC do not pay Inland Revenue any tax equalisation. You may want to check this otherwise you will be landed with a large tax bill.
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