England Forum

fullbib
Joined 2007
Posts: 3

17 years ago

help! USD vs GBP

17 years ago

i will be moving to the UK on secondmnent next month and i'm struggling with whether to have my salary paid in pounds or dollars. my employer is suggesting that i split my salary by having the tax deductions taken out in the USD and he would then advise the UK office how much the net is and this would then be paid to me in pounds. i on the other hand would prefer to have all my tax deductions taken out in the UK and pay only social security,401k and medical in USD. it doesn't make sense to me to be paid in USD when all my expenses will be in pounds.
by the way my contract is quoted in pounds and since my basic pay just a little bit under 33000 pounds i would be subject to only 22% tax deductions right? do they have and equivalent of state tax over there and how much would it be? let me know what you all think as i have to make a decision soon on what is the best way to go. thanks for you help.
my employer will cover upto 70% of my rent plus im getting COLA of about six thousand pounds per year. i read somewhere that cost of living allowances are not taxable in the UK. is this true? Tax consultation is also part of the package.

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