Thanks all for your replies thus far, very helpful and enlightening, and Pilot Lyon, whilst I do earn more than the threshold you mention, the share v rent dilemma is what its all about for me!
I must admit, compared to the gliding world, I am surprised at the running costs before you even get to fly. Actually buying the aircraft is one of the lowest cost items it seems. I need to find somewhere with nice aircraft (other than PA28s) that I can hire cheaply I think!
Cheers,
'FA'