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Old 7th May 2014, 05:25
  #82 (permalink)  
R T Jones
Join Date: Sep 2004
Location: London
Age: 31
Posts: 572
I can confirm the bond you give ctc is paid back tax free and your salary is dropped by the same amount. So a second officer scale is 38k, if you went through ctc your salary will be 29k. That goes through the taxman then the bond is added on after.
It's a substantial tax saving when you move to the SFO scale. My bond repayment is based on the 60k bond and am about 350 a month better off as a result. Over 7 years thats 29,400 more in your pocket than the government.
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