Switzerland take home

[BR14]

Not long enough - it would only be 6 months and I'd be returning each weekend and doing day from home

ah, ok, my apologies.

[BoredBloke]

how long will you be in Geneva? if you're there long enough, you'll be tax resident there.

Not long enough - it would only be 6 months and I'd be returning each weekend and doing day from home

[BR14]

how long will you be in Geneva? if you're there long enough, you'll be tax resident there.

[NotAllThere]

Seems about right.

[BoredBloke]

Cheers for the comments. Can anybody confirm my thinking on the tax front. My guess, from a bit of reading round is that while I stand to lose about 35% in Switzerland, only 25% will be due to tax and HMRC will expect the missing 15%. Meaning that it would be taxed at 50% or there abouts

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[edison]

Just wanting somebody to check my assumptions on this. I'm up for a role in Geneva. Because I'll be a uk resident for tax purposes I'll essentially have to pay tax at uk levels. So in geneva I'll see about 35% of the total after fees and taxes from the management company. However as the actual tax element of this is about 25% I'll be looking at making up the difference with HMRC. As I'll be almost at the 40% bracket due to the amount I've drawn from my company already this year,, this means I'll be having to stump up about 15% to make up the difference. So overall I'll be losing half to taxes and fees between Switzerland and here. That's not even considering medical insurance fees and expenses.

So if the rate is 900chf, that'll be 450chf after taxes. So for a 20 day month that's 9k chf or about £7.5k so assuming 2k in expenses it's suddenly down to 5.5k per month.

Is there anything I've missed and should be aware of?



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Cost of living can be very steep in Switzerland, make sure you budget for a realistic amount for expenses. I remember on my first day in Basel getting the equivalent of a supermarket lunch meal deal which would be £3-4 in the UK and it was about £14.

[NotAllThere]

900CHF is just about enough to make a profit.

[BoredBloke]

Just wanting somebody to check my assumptions on this. I'm up for a role in Geneva. Because I'll be a uk resident for tax purposes I'll essentially have to pay tax at uk levels. So in geneva I'll see about 35% of the total after fees and taxes from the management company. However as the actual tax element of this is about 25% I'll be looking at making up the difference with HMRC. As I'll be almost at the 40% bracket due to the amount I've drawn from my company already this year,, this means I'll be having to stump up about 15% to make up the difference. So overall I'll be losing half to taxes and fees between Switzerland and here. That's not even considering medical insurance fees and expenses.

So if the rate is 900chf, that'll be 450chf after taxes. So for a 20 day month that's 9k chf or about £7.5k so assuming 2k in expenses it's suddenly down to 5.5k per month.

Is there anything I've missed and should be aware of?



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