For any new joiners or those thinking of going down this route and in particular Cadets planning on claiming the cost of type rating back and with loans to pay. If revenue continue the digging and new joiners are put on the current base PAYE FO pay deals with no ability to claim the TR costs back you could find yourself in some bother. There are souls who claim you could get the TR cost back via a self assement thereby getting ones income tax back but even with my limited tax background I'd suggest that is never going to wash. I believe one needs the limited company structure to do this.