C2W

[endoman]

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

 

[Chris.IOW]

Incorporate as a Ltd company and make yourself a director of the company. Has other tax issues though.

Having said that directors are technically self employed why are they allowed access to the scheme and not other self employed people.

 

[al-fresco]

Incorporate as a Ltd company and make yourself a director of the company. Has other tax issues though.

Having said that directors are technically self employed why are they allowed access to the scheme and not other self employed people.

Directors are not self-employed, technically or otherwise.

 

[endoman]

Incorporate as a Ltd company and make yourself a director of the company. Has other tax issues though.

Having said that directors are technically self employed why are they allowed access to the scheme and not other self employed people.

Looked at incorporation, wouldn't have any benefits in my current situation. Just find it amazing that a bike is not allowed to be deducted for travel to work if you are self employed, but it is if an employee,