Cycle to work scheme

[Gog]

First of all this is my first post on this board so hello

My current ride is a Specialized Tri-cross used for my commute and weekend rides.
I`m after a new bike mainly for weekend rides.
I thought i would try and take advantage of the cycle to work scheme.
My only problem with this is that work do not want to join the scheme. As they cant see the point as they do not gain anything from it.
Is there anyway i could take advantage of the scheme without any input from my work???
From my research i don`t think there is.

 

[jamman]

First of all this is my first post on this board so hello

My current ride is a Specialized Tri-cross used for my commute and weekend rides.
I`m after a new bike mainly for weekend rides.
I thought i would try and take advantage of the cycle to work scheme.
My only problem with this is that work do not want to join the scheme. As they cant see the point as they do not gain anything from it.
Is there anyway i could take advantage of the scheme without any input from my work???
From my research i don`t think there is.

They do gain from the scheme really.
You pay for the bike by giving part of your salary towards it for 11 months.
Therefore your employer pays you less and then they don't have to contribute as much to NI contributions based on pay.

 

[Soltydog]

My employer does not pass the VAT saving onto employees, so providing your employer is VAT registered, they can claim back the VAT & then they also save on their NI contributions reduced, so it may be worth their while if there's a few wanting to take up the offer

 

[Norm]

The employers gain over 50% of the value of the bike (recovering the VAT of 16.7% of the purchase price, reducing the e'ers NI contributions of 13.8% and taking a 25% final payment).

Ask them what else they can do that gets them a 50% guaranteed return in 12 months and acts as a significant deterrent to the staff member leaving before the end of the rental period.