CTW question

[bloominslow]

Hello guys

My work is in the cycle to work scheme but only offer it for a short period of time throughout the year. once this month is up they shut off the scheme and you are no longer able to apply for a bike. as my friend missed the scheme is there any way around this ? for example if my company is registered to the scheme would my friend be able to still do the scheme if he went to shop and registered himself

Any imput would be great

 

[NeilEB]

Wouldn't have thought so - the payments come out of his wage slips and I think he'd need to be set up at the company's end in order to make sure the tax situation is correct.

 

[wiggydiggy]

I have exactly the same situation as the number of employees means the scheme is managed on a bulk basis once per year, dont miss it!

 

[lejogger]

Managing the scheme in 1 annual window makes it a lot easier for everyone.

The bike supplier only have to invoice once, and the deductions from your salary can all be collected in unison, so reconciling what's been collected compared to the value of the invoice is much simpler. Obviously there are companies who keep it open all year round, but it's much messier. If your friend's company only allow joining of the scheme in the window then there's not a lot they can do apart from wait until next year or try to find some interest free credit and take the blow of missing out on the tax savings.