Cycle 2 work scheme

[jowwy]

It seems hmrc has now changed the rules and you can now buy frames, components and wheels.

Not just bikes, clothing and accessories.

 

[LocalLad]

Interesting, will have a look at that. Was just thinking that ours will be due, but that I'd like to spend more than the grand on the next bike

 

[helston90]

Worth noting- although this has always been one of my arguments for gaining a good relationship with an LBS- friend of mine has a rucksack/ helmet/ lights which look A LOT like a pair of Mavic wheels.

 

[J1888]

It's the wait that's annoying - sent my application off last Tuesday and dying to get my mitts on my new bike...all relies on our HR/Finance team paying the money reasonably promptly

 

[screenman]

It's the wait that's annoying - sent my application off last Tuesday and dying to get my mitts on my new bike...all relies on our HR/Finance team paying the money reasonably promptly

Think of the saving, you do have an option but most good things are worth waiting for.

Now if only everybody could get atax break on buying bikes, a local workshop I do work for had 11 of the lads there buy bikes on this scheme, none of them ride them to work though and most do not ride them at all, what a waste.

 

[Alembicbassman]

A bloke on Gumtree was selling his C2W voucher the other day.

He was going to come with you to Halfords to choose a bike.

I had to laugh

 

[glenn forger]

Totally pondering this, the work scheme is Cycle2work so the bikes must be from certain retailers and of course their prices are higher than other outlets I've found. You have to do the maths so carefully.

 

[tallliman]

A bloke on Gumtree was selling his C2W voucher the other day.

He was going to come with you to Halfords to choose a bike.

I had to laugh

How much was he selling it for out of curiosity? Was he trying to make a profit?!

 

[Alembicbassman]

How much was he selling it for out of curiosity? Was he trying to make a profit?!

Not sure, he could sell it at 10% less than face value and still make 10% profit as the money is taken before income tax.

The problem is that you don't own the bike, you have to pay a settlement fee, after a year or so, based on the current value of the bike.

He'd be selling something he has no legal right to sell.

 

[Scoop]

A bloke on Gumtree was selling his C2W voucher the other day.

He was going to come with you to Halfords to choose a bike.

I had to laugh

Dangerous game there.

Over the moon with the news about buying components though!

 

[J1888]

Totally pondering this, the work scheme is Cycle2work so the bikes must be from certain retailers and of course their prices are higher than other outlets I've found. You have to do the maths so carefully.

Yeah there's likely some truth in that. In my case I want the new Boardman Team Carbon so won't get it anywhere other than Halfords, plus the 10% BC discount can still be used.

 

[glenn forger]

£1400 bike (Dawes Super Galaxy) would be £60 a month net less wages. I've seen better deals from bike sheds and Spa Cycles, although their stock seems to have gone.

 

[Nibor]

Never heard of anyone paying the settlement fee although I have limited experience of the scheme

 

[User33236]

Never heard of anyone paying the settlement fee although I have limited experience of the scheme

I was asked for, and paid, a settlement fee on my C2W bike.

After the upfront admin fee and the extra payment after month 12 I didn't safe anywhere near the percentages quoted and it's something I wouldn't look at doing again as it's IMHO not worth the extra hassle.

 

[fossyant]

Hmm, do you think I'd be able to get a C2W voucher at work, with everyone in Finance knowing I broke my spine, and won't be commuting again... hmm, worth a try ?