Claiming Tax on a Charity Ride.

[kievgoose]

I'm looking to do the Lands End to John 'o' Groats for charity. I'm going to be paying it all myself so that all the money I raise will go straight to my chosen charity.
I'm remember having a conversation with a guy in my local bike shop and he said that I would be able to claim the tax back on anything that I specifically buy for my trip. The main thing I need to buy is a proper roade bike. At the moment I have 2 MTB's and a hybrid, but I've been advised that I need a road bike. I have a budget that I don't want to go over. It would help my choise if I knew that I could claim it back.

So in essence am I able to claim the tax back on buying a bike and in claiming it back would I be entitled to the money or would it go to the charity that I'm rasing the money for ?

Thansk in advance.

 

[fossyant]

Nope you are not.

 

[robgul]

That's total cobblers - two things you can do tax-wise :

1 if you are employed and your employer is on the Bike to Work scheme you may get a bike that way - you sort of buy the bike with payments taken before your pay is taxed

2 if you are raising money for a registered charity get sponsors/donors to make their payments "gift aided" (if they are UK taxpayers) - the charity can help you with the paperwork - or if you create a page on justgiving.com it's handled automatically.

Rob

 

[Crankarm]

Agree with the above - cobblers. The guy in the LBS was just trying to sell you a bike. You can do it on any bike just so long as it fits you properly and you are comfortable.

 

[bof]

Only cases you can get relief on tax I am aware of:

1/ Handicapped cyclists can be exempted from VAT - where adaptations are made for the handicap,or the bike is specially built to cope with it.
2/ Bike to Work as mentioned, plus If you have your own business and genuinely use the bike for work, you can purchase it via your company (a company can lend out bikes to employees at no tax charge if they are mainly for work or commuting use and available to all employees).
3/ If you use your own bike on work-related journeys you can claim 20p/mile.

 

[deanE]

I am doing a JOGLE next month on a modified hybrid. 14 days, so no racing. Main thing depends upon whether you are self supported or have a baggage wagon. If the former then you need something you can fix panniers to.