ChrisM
New Member
- Location
- Romford,Essex
My company charged 10% of bike purchase value but I've heard of people paying a £1 for theirs!!
Common Rail said:Hi. I had thought of raising a new thread on this, but as you happen to mention it, what percentage of original shop ticket price did you have to pay to gain ownership of the bike at the end of your C2W HP period?
chap said:Nice scheme if you can get it....that's where the similarities end.
It would be interesting to see the adoption of this scheme within the Civil Service; and whether we now have legions of cycle commuting city councillors and staff. How many politicians have opted for the humble Brommie, as part of the initiative (Mandleson doesn't count he already had his.)
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What you have is a rock-solid case against your employers if you are the first person that Mr Taxman does come back to check. With the written advice which you have been given by your employers, it would be very difficult for them to fight a claim in the very unlikely situation that it ever did come to that.Employees are not expected to keep mileage logs but employers should make clear to them that if they do not use the cycle mainly for qualifying journeys, they may lose the benefit of the tax exemption. In that event the employer would have to report the benefit in kind on form P11D, and account for Class 1A NICs, in the normal way. The employee would be liable for the tax due on the benefit in kind.