cycle scheme question

[vickster]

Dunno, I'm now employed by a company that doesn't offer the scheme. I just prefer to buy the bike I want on an interest free credit card anyhow. The scheme is not as good as it was if you have to buy at RRP

Do you have a commute to your permanent place of work or home based. The bikes on the scheme are meant to be used for commuting

 

[KneesUp]

Why are you not using it for business?

Because I only commute to a fixed place of work.

 

[KneesUp]

Form a Ltd. Co?

I don't think the extra cost involved would justify it in my case. My bike was £26.

The general point is that a tax break afforded to employees is not afforded to the self-employed. That won't change if I turn my business into a Limited Company, it will just mean I am employed by a company I own rather than by myself.

 

[KneesUp]

Yes it would, directors of companies can participate.

It would not change the fact that self-employed people cannot get a tax break on bikes.

It would allow me to avoid it by no longer being self-employed in the legal sense. But it would not address the problem.

 

[KneesUp]

I am suggesting solutions.

It's a way of avoiding the obvious gap in the system rather than a solution - it's like solving the problem of a collapsed bridge by taking a detour rather than repairing the bridge.

I don't think there are many people who would re-consider the legal status of their business on the basis of whether or not they could claim the tax back on a bike. There are rather more things to think about.

 

[SWSteve]

Yes, I got that advice in the end - so if you are employed you get a tax free bike to go to work on, but if you're self employed you do not.

If you're self employed and what you purchased would 'solely be used for the business' couldn't you just claim the bike back from your tax?

 

[Ganymede]

If you're self employed and what you purchased would 'solely be used for the business' couldn't you just claim the bike back from your tax?

Only if you used it for travelling for your work, eg to meetings. You can't claim for commuting to your normal place of work, presumably on the grounds that everyone has to do that.

 

[KneesUp]

You do still go on about it from time to time though.

We disagreed on another thread, as I recall, so I presume you are posting here to attack me rather than to entertain or illuminate as a result. Well done.

I don't suppose I am alone in mentioning things which seem unfair in a discussion in which they are relevant.

Do you have anything to add to the discussion other than "you could change the legal status of your business in a manner which will place a much greater legal and administrative burden on you in order to save a few hundred quid every few years on a bike" and implying that this is somehow equivalent to the cycle to work scheme for the employed? Or are you now just looking for an argument?

 

[KneesUp]

Apologies if my looking to offer helpful suggestions is unwelcome. You could try to bear in mind that you won't be the only self employed person reading them.

So my comments may also be useful, so there is no need for you to try and police them. I don't see how the comment below is helpful. Perhaps I missed something though?

You do still go on about it from time to time though.

 

[Big Nick]

Do those answer it?

Not really, seems a bit casual to me dependant on if some random manager can be arsed

 

[GrumpyGregry]

Not really, seems a bit casual to me dependant on if some random manager can be arsed

I like the idea that compliance with HMRC rules is down to some random manager being arsed. Most well-run organisations take ethics and equity and compliance seriously these days.

Still perhaps HR and Finance senior management in some shops do wear ten-gallon-hats and ride horses to work.

 

[Big Nick]

I like the idea that compliance with HMRC rules is down to some random manager being arsed.

Yes, don't we all...........

 

[Iainj837]

It is a hard thing to police, I would imagine especially for a large company.
To see if their employees are using the bike for get to and from work.
I have got my bike from the c2w scheme and it does say on the paperwork something on lines you must use the bike for mainly use for work but it can be used for leisure.

 

[howard2107]

If only they did a Wifescheme.

Ive got a wife you can have for free, but she will be one hell of a salary sacrifice, a Porsche would be cheaper LOL

 

[Kestevan]

About time they scrapped this stupid scheme. At its best its only available to some and appears to be a magnet for abuse (either people not "riding to work" or obtaining bikes for partners/children).

Scrapping VAT on bikes would make more sense, and would be open to all.