endoman
Senior Member
- Location
- Chesterfield
I'm self employed, but employ my Wife and one other. Just got this from my accountant re C2W, seems the revenue are fine for bikes for employess, but I can't claim a capital allowance for a bike for me to cycle to work. Think I may just get a bike for the wife that happens to fit me! Any other suggestions?
As you are self-employed you do not qualify for the Cycle To Work Scheme, as this only applies to employees and directors (as you correctly concluded below).
The business could purchase a bike for you to use for business purposes and the bike would qualify for 100% Capital Allowances in the first year. However, this would need to be restricted by an estimated percentage for private use, please note that home to work mileage is considered as private use for tax purposes
As you are self-employed you do not qualify for the Cycle To Work Scheme, as this only applies to employees and directors (as you correctly concluded below).
The business could purchase a bike for you to use for business purposes and the bike would qualify for 100% Capital Allowances in the first year. However, this would need to be restricted by an estimated percentage for private use, please note that home to work mileage is considered as private use for tax purposes