C2W Scheme - Proof of 50% worth of commuting??

[400bhp]

You are entitled to be ****ed off, fair point.

My scheme isn't open to company car drivers unfortunately so I can't go on it anyway.

Although, I feel you aren't looking at it correctly. I'm a 40% tax payer and as such I pay a lot of tax, plus I pay extra tax for the use of a company car so all in. All I pay a LOT of tax. I'm not moaning about that as such, I'm in a lucky position and I know it.

But, benefitting by around £400 by going on this scheme would be a drop in a large tax ocean PLUS as I would commute on some occasions leaving my car at home I would be getting one more car off the road for at least a bit more than otherwise and it may encourage others to do the same.

Just to be clear. You only pay less tax because you buy a bike. The bike being more than the tax saving. Lots of people seem to miss that. So you are in a net worse position.

 

[NotthatJasonKenny]

Just to be clear. You only pay less tax because you buy a bike. The bike being more than the tax saving. Lots of people seem to miss that. So you are in a net worse position.

True, and as I would have been buying British build off a British company who pay british corporation tax...

 

[Crankarm]

You are entitled to be ****ed off, fair point.

My scheme isn't open to company car drivers unfortunately so I can't go on it anyway.

Although, I feel you aren't looking at it correctly. I'm a 40% tax payer and as such I pay a lot of tax, plus I pay extra tax for the use of a company car so all in. All I pay a LOT of tax. I'm not moaning about that as such, I'm in a lucky position and I know it.

But, benefitting by around £400 by going on this scheme would be a drop in a large tax ocean PLUS as I would commute on some occasions leaving my car at home I would be getting one more car off the road for at least a bit more than otherwise and it may encourage others to do the same.

You only pay 40% tax on earnings above £42k iirc. You don't pay 40% on ALL your income. So you must have a pretty good income. The scheme still unfairly favours high earners i.e. those that pay 40% tax.

 

[winjim]

You only pay 40% tax on earnings above £42k iirc. You don't pay 40% on ALL your income. So you must have a pretty good income. The scheme still unfairly favours high earners i.e. those that pay 40% tax.

40% tax bracket is somewhere in the region of £32k. So not megabucks.

 

[Crankarm]

if you have a bike already, getting a scheme bike would do nothing to increase your opportunity to cycle commute

I could still get a bike on the scheme and commute on it though. AFAIK there are no restrictions ……. that if you already ride to and from work on a bike you've already bought with your own cash without tax relief you are ineligible to use the C2W scheme.

 

[Crankarm]

40% tax bracket is somewhere in the region of £32k. So not megabucks.

£32,245. I stand corrected. But still a very healthy income …………….

 

[NotthatJasonKenny]

You only pay 40% tax on earnings above £42k iirc. You don't pay 40% on ALL your income. So you must have a pretty good income. The scheme still unfairly favours high earners i.e. those that pay 40% tax.

Yeah, £32k as stated but I drive an expensive company car so that allowance takes up most of my tax allowance so I do pay a lot of tax. Not complaining, I'm very lucky.

 

[CopperBrompton]

40% tax bracket is somewhere in the region of £32k.

Nope, it's £31,866 plus your personal allowance, so for most people 40% tax kicks in at £41,866. (The exception is if you earn more than £100k, when your personal allowance decreases by £1 for every £2 you earn, reaching zero at £120k gross income.)

 

[CopperBrompton]

The scheme still unfairly favours high earners i.e. those that pay 40% tax.

Higher earners get more benefit from the scheme, but whether that is unfair is debatable as they pay a lot more tax in the first place.

 

[Drago]

I never used my C2W bike for commuting. Itwas just an easy N+1 while I sneakily continued to commute on. the same bike.

 

[Drago]

I think I better turn myself in. In mitigation I shall point out that my boss at the time did the same so I foolishly presumed it was ok.

Tell a lie, I did commute on it once and used it that day to teach a refresher course.

 

[Learnincurve]

It makes me sad that people are being given a free bike, when I don't get one.

Why no bikes for full time carers if it's about environmental impact? We get paid well under minimum wage as it is and it would be a nice "thank you for not saying "no pay someone from the NHS £60k a year to do it, I'll earn more and do less hours working at macdonalds, hey wonder if they would give me a free bike""

 

[Drago]

Who's been given a free bike?

I'm a full time carer for a wheelchair bound spouse and still work full-time (I work for the rest!)

In essence I have 2 full-time jobs, one of which is unpaid, and I buy my own bikes like everyone else has to.

 

[Learnincurve]

Who's been given a free bike?
.

.
People on the cycle to work scheme get a free bike and it looks like they don't even need to use it to cycle to work.

 

[winjim]

Nope, it's £31,866 plus your personal allowance, so for most people 40% tax kicks in at £41,866. (The exception is if you earn more than £100k, when your personal allowance decreases by £1 for every £2 you earn, reaching zero at £120k gross income.)

I was under the impression it included your personal allowance. I stand corrected.