Halfords cycle2work scheme nightmares

[cyberknight]

The savings haven't changed.

The rules have been tightened up to reduce misuse of the scheme.

Ahh well they have since i did it, my final repayment was about £70 rather than 25 % of the bike value.

 

[vickster]

£700 gets you a Giant Defy / Avail 3 with 9 speed Sora and a carbon fork (I think the OP is female , apologies if not)!

 

[vickster]

Ahh well they have since i did it, my final repayment was about £70 rather than 25 % of the bike value.

I never had a final payment when I did it 4 or 5 years ago! I think the savings are now rather less good, better if a 40% taxpayer potentially

 

[400bhp]

That Focus bike looks shat. Alloy forks at £650

 

[400bhp]

Ahh well they have since i did it, my final repayment was about £70 rather than 25 % of the bike value.

No, your works scheme might have changed. The tax savings haven't.

 

[Milzy]

What sort of bike do you want? Do you want something sporty or something more relaxed that you can mudguards and a rack to for commuting which is presumably the main use?

Where do you live and what retailers are you looking at?

I want something racey. I live in West Yorkshire so I can keep it flatish or easily find the big hills.

I'm a male BTW. I think it would be best to cancel the scheme & go 0% apr route or even credit card the Triban 7.

If you feel like it list some compacts no more than £650 which are able to get through Halfords cycle2work scheme

Many thanks.

 

[Milzy]

In the future I'm going to be racing duathons & then onto Triathlons. Our company don't even poilce the scheme people sell their bikes to make a quick buck or leave them at home & come in the car.

 

[400bhp]

In the future I'm going to be racing duathons & then onto Triathlons. Our company don't even poilce the scheme people sell their bikes to make a quick buck or leave them at home & come in the car.

Why should they police it?

 

[Milzy]

Why should they police it?

They shouldn't.

 

[400bhp]

Then why write what you did?

 

[vickster]

I am guessing you mean people sell on before the hire agreement has ended...

 

[Milzy]

Then why write what you did?

Because previous posts discussed about abusing the scheme. The last & only guy we had complete his year didn't make any final payments. It must have changed since a few years since.

 

[Milzy]

I am guessing you mean people sell on before the hire agreement has ended...

Yeah we have had a few young lads do that within the first 4 weeks.

 

[vickster]

Have to keep making the payments though, what would happen if they lost their job or decided to leave, have to pay it all back. Or HR, the auditors or the taxman decide to ask questions...I am suspecting that is illegal, fraud or similar

If you want a sporty bike something like the Specialized Allez or Cannondale CAAD would fit the bill - however, at £650, it would be entry level spec, especially on C2W as you'll pay full RRP

 

[400bhp]

Yeah we have had a few young lads do that within the first 4 weeks.

might be a breach of employment contract?