Relocation package expectations

Stewslick

Hi,
I have the option of moving from Aberdeen to London. Have yet to negotiate a relocation package and have never done so before. Wha would be reasonable to exect?
I was thinking :
Rent and flights for the 2 months or so before my family join me.
Stamp duty covered.
Estate agent/legal fees
Early redemption on mortgage penalties
Removal costs

Am I being realistic?
Am I missing anything?
What are the tax implications?
What sort of tie in period should I expect? I thought 2 years sliding scale.
Thanks

alunharford

http://www.hmrc.gov.uk/guidance/relocation.htm

jdturk

Stewslick wrote: »

Hi,
I have the option of moving from Aberdeen to London. Have yet to negotiate a relocation package and have never done so before. Wha would be reasonable to exect?
I was thinking :
Rent and flights for the 2 months or so before my family join me.
Stamp duty covered.
Estate agent/legal fees
Early redemption on mortgage penalties
Removal costs

Am I being realistic?
Am I missing anything?
What are the tax implications?
What sort of tie in period should I expect? I thought 2 years sliding scale.
Thanks

Unless they really value you.....no!

Oldernotwiser

Stewslick wrote: »

Hi,
I have the option of moving from Aberdeen to London. Have yet to negotiate a relocation package and have never done so before. Wha would be reasonable to exect?
I was thinking :
Rent and flights for the 2 months or so before my family join me.
Stamp duty covered.
Estate agent/legal fees
Early redemption on mortgage penalties
Removal costs

Am I being realistic?
Am I missing anything?
What are the tax implications?
What sort of tie in period should I expect? I thought 2 years sliding scale.
Thanks

When I had a relocation package I was able to claim money for carpets and curtains but it was a long time ago when things were more generous.

Andy_L

Whats the house price difference, ie how much more will your mortgage/rent be compared to Aberdeen vs London salary?

getmore4less

Does the company have a standard package?
This will be the starting point.

What sort of company how are they doing financialy.
How valuble are you.

How familiar are you with the new location, commuting may be very different.

Check house price/rent differentials you may want to factor that into salary negotiations as well as the general cost of living.

If you own how long will it take to sell,
2months is not long enough for a transition time.

You want the deal to be non repayable if they dismiss you for any reason.

2 years seems a reasonable for you leaving but they may want something like full repayment in the first year, sliding in second/third.

Stewslick

Oldernotwiser wrote: »

When I had a relocation package I was able to claim money for carpets and curtains but it was a long time ago when things were more generous.

Think I'll manage to get a bit more than that. Offer is as a result of being headhunted (and happy in my current role so no huge pressure to move) and they have been pretty agressive with the chase and package offer so think I have a pretty strong bargaining position.

Oldernotwiser

Stewslick wrote: »

Think I'll manage to get a bit more than that. Offer is as a result of being headhunted (and happy in my current role so no huge pressure to move) and they have been pretty agressive with the chase and package offer so think I have a pretty strong bargaining position.

I meant that I got that in addition to the things you listed - you asked if you'd missed anything!

getmore4less

Stewslick wrote: »

Think I'll manage to get a bit more than that. Offer is as a result of being headhunted (and happy in my current role so no huge pressure to move) and they have been pretty agressive with the chase and package offer so think I have a pretty strong bargaining position.

OK much longer for the time period to move, you need few distractions/pressures to move while getting into the job and becoming productive.

Is there any "work" travel, thats makes relocs harder specialy international

do you have a wife that works. her reloc/loss of earnings needs covering untill she gets a new job.

Kids, school can effect timings if during school holidays might need some child care.

As well as your flights back you need family flights(and accomodation) down for house school hunting.