Err - don't you park your gears like that? Less strain on cables and springs = longer life.
Can't say that I ever have done.
Dodgy ebay bike sale.
- Thread starter Kestevan
- Start date
Page may contain affiliate links. Please see terms for details.
Can't say that I ever have done.
EssexRider
New Member
- Location
- Brentwood
how can you tax someone on vouchers though? take some vouchers off them?
Maz
Guru
Why bother?
Cyclist33
Guest
- Location
- Warrington
Actually the long service award sounds plausible. Exempt from tax if less than £50 per year served and has to be 20 years or more. From memory.
Send him a message saying unless he sells it to you at a discount, you will contact the Revenue to notify them that his long service award has been swapped for cash which is no longer free of tax.
Ooh I really should work for HM Revenue and Customs.
Surely if he takes the non-cash reward then subsequently sells the product he is not getting a cash reward directly? Therefore not illegal? Unless, like with Cycle 2 Work, there is a clause specifying certain usage levels to the reward-product?
Feckin nice bike for £510 though!
Stu
Maz
Guru
“If so, he doesn't actually own the bike he's trying to sell.”
“A bit .......... odd”
“Maybe a bit illegal!!!!!!!!!!!!!!!”
“Definitely warrants some investigation.”
“Send him a message saying unless he sells it to you at a discount, you will contact the Revenue”
What are you lot like! Leave the guy alone, you interfering, curtain-twitchers!
“A bit .......... odd”
“Maybe a bit illegal!!!!!!!!!!!!!!!”
“Definitely warrants some investigation.”
“Send him a message saying unless he sells it to you at a discount, you will contact the Revenue”
What are you lot like! Leave the guy alone, you interfering, curtain-twitchers!
Black knight
Active Member
I don't know the intricacies of whether the buyer is breaking the law, and my response assumes that the bike has been rented under a C2W scheme, so it isn't specifically about this bike.
If someone sold a bike which they had rented under the C2W scheme, they would be breaking the law as they are selling something which isn't theirs to sell. This would be the same as someone selling a car they had rented from Hertz or selling a company car, computer etc. If the company found out, my guess is that the employee would be sacked instantly (selling company assets is gross misconduct in my book) and they could demand the return of the bike, leaving the buyer with nothing other than a possible claim against the seller.
guitarpete247
Just about surviving
- Location
- Leicestershire
Is it like buying a car that still has finance on it. If the payments stop it can be repossessed by the finance. Or in this case the revenue?
And how do the revenue have any claim?
guitarpete247
Just about surviving
- Location
- Leicestershire
And how do the revenue have any claim?
Just read your point (must have posted same time as mine). Maybe I didn't mean revenue but the folks who put the money up for the bike. I've not looked into C2W as I can't use it so don't know where the financial buck stops in the scheme. The firm will be making a claim somewhere to the revenue or there would be not much in it for them except for a fitter workforce and less car parks needed.
The company owns the bike, so they are the ones who put the money up for it.
They also do pretty well out of a C2W scheme financially, as they should expect to make / save over 30% of the purchase price. They can usually recover the VAT (approx 15% of the purchase price), they reduce their NI contributions (approx 12.8% of the purchase price) and they sell the bike at the end of the rental period (somewhere between 5% and 25% of the purchase price).
The revenue have no claim against the bike at any point, the most they could do is declare the scheme invalid and claim for the taxes foregone as a result of the salary sacrifice.
