And, if you don't declare that on your tax return, you are guilty of tax evasion and liable to significant fines and a period at her majesty's pleasure, together with the distinct possibility that you will never work again.Soltydog said:I didn't have to make an additional payment to keep the bike with my employer
The purchase price cannot be set in advance and, if you pay anything less than market value, you will be liable to pay tax on the difference.johnmillie said:
I've never filled a tax return in during my working life, so i've told no lies to the taxman I doubt i'll ever spend time at 'her majesty's pleasure' for the offence, surely it's my employer's fault & i'm sure the union would have a field day with itNorm said:And, if you don't declare that on your tax return, you are guilty of tax evasion and liable to significant fines and a period at her majesty's pleasure, together with the distinct possibility that you will never work again.
And you are a tax cheat.
I had this last time i used the scheme. The bike I wanted was over a grand & I was willing to stump up the extra, but because the company owns the bike & you just lease it you cant have part ownership ie paying some cash yourself with the scheme I'm sure there will be some shops willing to bend the rules on this thoughdiabach said:can i use the voucher at anywhere but halfords and can i exceed the £500 with an additional payment, if not, why not. i can"nt get my head around the fact that it"s your money but can"t buy where you want to,!
|Independent Brompton dealers offering Cycle to work scheme?||Folding Bikes||9|
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|G||Question about Cycle to Work scheme please||General Cycling Discussions||4|
|M||Which bike to purchase in the cycle to work scheme||Bikes & Buying Advice - What Bike?||5|