Question about job offer

Annando

Hello,

OH has just received a job offer after being made redundant in November. The job offer he got was for a lower wage than he had before, but since it has been the first job offer he has got after dozens of interviews we are not complaining! :j
The job is with a very large blue chip company and one of the benefits they offer is :

[FONT=&quot]you and your family are automatically covered by our PPP health scheme. This is non-contributory, however, you are liable for the tax payable on this benefit.
[/FONT]

We can opt out of this I think, do you know how much we would have to pay in tax for this if we decide to not opt out of it? Is there a certain % of your salary that you pay for this? How do you work it out?



Thanks in advance for any help!

Emmzi

To get a rough idea, have a look at PPP or BUPA websites and see what the monthly premium is ofr your age/ family size etc. They probably have a 'standard rate'but it'll giev you an idea.

The tax is generally at your marginal rate ie if you're a 40% taxpayer, you pay 40% of the equivalent monthly premium in extra tax. So if benefit cost = £100, you pay an extra £40 in tax (roughly).

Annando

Thanks for the replies!

Savvy_Sue

If it were me, and I could possibly afford it, I would go for it! I think that if you join as an individual, they're very tight on not covering pre-existing conditions, whereas if your employer is paying, they are more flexible. don't quote me on this, but I think it's what others have found.