cycle to work scheme

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Hello everyone, started cycling to my work after a break of a few years found out about the scheme, are companies obliged to join the sceme if an employee wants to gain the schemes benifits. My HR department are looking in to see what the implications are, any advice would be greatly appreciated.
 

nigelnorris

Well-Known Member
Location
Birmingham
No, there's no obligation.
 

Jonathan M

New Member
Location
Merseyside
Benefits are many though.

It is salary sacrifice, so is taken from gross pay. Your tax & NI contributions reduce slightly, as does the NI contributions made by the employer. Fitter & happier employees is also a good reason.

Are you public or private sector employed? Seems to me that private sector perhaps recognises the benefits more than public, the NHS Trust I work for took many years of persuasion before they signed up.

The scheme running within my employer is only open for a month in the spring, this has been carefully selected for three main reasons. People who are keen to join will wait until the next opportunity, those who don't consider themselves cyclists but wish to join the scheme are possibly more likely to be successful if they join in the spring, and there is less chance of someone joining in November or December & buying an all singing, all dancing MTB that they then subsequently "don't like" and palm off to teenage off-spring.
 

Billloudon

New Member
Location
Escocia
As a recently retired man I was more than a little miffed when I heard that I was inelligible.
Why, the thick among you may say, given that it is a Cycle to work scheme. (you know you were thinking it)
Yes it is but the thinking behind it was and is to ensure more people leave their cars at home and travel by bike. This was simply a way of catching as many people as possible.
I get a pension, pay tax deal with it.
 

Jonathan M

New Member
Location
Merseyside
Billloudon said:
As a recently retired man I was more than a little miffed when I heard that I was inelligible.
Why, the thick among you may say, given that it is a Cycle to work scheme. (you know you were thinking it)
Yes it is but the thinking behind it was and is to ensure more people leave their cars at home and travel by bike. This was simply a way of catching as many people as possible.
I get a pension, pay tax deal with it.

Part time work at an employer who runs the scheme maybe? Hours to match the monthly cost of the bike would do.
 

summerdays

Cycling in the sun
Location
Bristol
Jonathan M said:
Part time work at an employer who runs the scheme maybe? Hours to match the monthly cost of the bike would do.

It would have to be more than the cost of the bike - you have to still be paying tax and NI after you pay the cycle scheme each month as far as I know. (I was mucking around putting in different figures into a savings calculator - and when I put in a low figure it said I didn't pay enough tax to qualify).
 
summerdays said:
It would have to be more than the cost of the bike - you have to still be paying tax and NI after you pay the cycle scheme each month as far as I know. (I was mucking around putting in different figures into a savings calculator - and when I put in a low figure it said I didn't pay enough tax to qualify).

You also still have to take home at least the National Minimum wage per hour, after taking account of the salary sacrifice.
 
OP
OP
B
thanks for the info folks i work in the private sector , problem is HR is run by a clown who seems to make the rules up as she goes along.Thanks again
 

Billloudon

New Member
Location
Escocia
Flying Dodo said:
You also still have to take home at least the National Minimum wage per hour, after taking account of the salary sacrifice.


Thanks for all the info guys but forget it. I'll get an old diesel blue smoker and pollute the atmosphere - stuff them!
 

Eddy_Mc

New Member
I still don't fully get the scheme, unless my employer is trying to pull a fast one. On the leaflet thay have supplied, they take the money from my wages.

After the bike has been paid for the company has full ownership of the bike, and will choose to sell it to me or not. It is either a missprint or a con.
 
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