My husband has been offered a job with a US based company and would be working as a contractor on a government contract in the UK (in the Huntingdon area). He currently makes $125k in the US. He has been offered $140k in the UK, with a relo package of $40k to help with the initial move.
We are concerned about a couple of things. First, we have 5 children. 4 of them attend school, (the company will pay for all education costs and we have the option of them attending the DOD school as well, which will probably be my preference). We will need a rather roomy home for 7 people, and it seems that homes are pretty small there compared to here (our current home is approx 4000 sq feet). It's ok if we have to downsize, we are willing to do so for the experience, I just want to make sure we can find something affordable that will work.
The second thing is taxes. The recruiter has been unable to direct us if the housing allowance (which is $43k of the compensation total) is taxable. Does anyone know? Also, I have been told that the initial relo package is not taxable, but then I read that it was. Which have you found to be true?
Should we bring our car? We have a Chevy Suburban, which is a huge vehicle. However, we need a huge one because of our family. Does it make sense to ship it over or should we sell it and buy something there? If we buy something there, who finances it? A US bank or a British one? I have read that we will have NO credit there so that might not work.
I should also add that we will be able to shop on US military bases for food, clothes, etc, so that will save us a little money here and there.
We are trying to gauge if we should accept the offer or not. We really would LOVE to give our kids this experience, but do not wish to hurt ourselves financially in order to do so.
Any opinions would be greatly appreciated, thank you so much!
We are concerned about a couple of things. First, we have 5 children. 4 of them attend school, (the company will pay for all education costs and we have the option of them attending the DOD school as well, which will probably be my preference). We will need a rather roomy home for 7 people, and it seems that homes are pretty small there compared to here (our current home is approx 4000 sq feet). It's ok if we have to downsize, we are willing to do so for the experience, I just want to make sure we can find something affordable that will work.
The second thing is taxes. The recruiter has been unable to direct us if the housing allowance (which is $43k of the compensation total) is taxable. Does anyone know? Also, I have been told that the initial relo package is not taxable, but then I read that it was. Which have you found to be true?
Should we bring our car? We have a Chevy Suburban, which is a huge vehicle. However, we need a huge one because of our family. Does it make sense to ship it over or should we sell it and buy something there? If we buy something there, who finances it? A US bank or a British one? I have read that we will have NO credit there so that might not work.
I should also add that we will be able to shop on US military bases for food, clothes, etc, so that will save us a little money here and there.
We are trying to gauge if we should accept the offer or not. We really would LOVE to give our kids this experience, but do not wish to hurt ourselves financially in order to do so.
Any opinions would be greatly appreciated, thank you so much!
