When I joined my present company the arrangement was I would pay for half the type rating and the company would pay the other half as long as I stayed for two years.
I asked them to reduce my salary for the first two years and at the end I would get back my contribution. After looking into it, it was fond that this was quite legitimate with the arrangement classed as a salary sacrifice.
In effect what what was happening was that I would be bonded for the whole amount, with half being put up by me in cash and the other half covered in a legally binding contract. If I stayed two years the type rating would be fully paid for by the company and I would receive a lower salary for two years.
The up side is that I would save tax and N.I. contributions on half the cost of the type rating. The company would also have to pay less N.I. contibutions on my lower salary.
The down side is that if the company went bust I could lose the cash I put up front. A risk I was willing to take.
I hope this makes sense
