hmrc

[dave coe]

Can anyone work out what the residual (fair) value for a bike is? New hmrc new guide lines, or as it is only leased can you at the end of the lease give it back to cycle scheme and not purchase the bike?Then get another bike as you can with car leasing schemes?

 

[sadjack]

Have you seen this thread?

https://www.cyclechat.net/

 

[Bromptonaut]

Scheme rules differ in detail but purchase is not compulsory. If the employer commits to the option of purchase, never mind requires it, then the salary sacrifice is invalidated. If you want to hand back the bike (unlike a car PCP there is no final value) you can.

Having said that the new rules on valuation have at least got the benefit of being crystal clear.

 

[DrSquirrel]

Can anyone work out what the residual (fair) value for a bike is? New hmrc new guide lines, or as it is only leased can you at the end of the lease give it back to cycle scheme and not purchase the bike?Then get another bike as you can with car leasing schemes?

Cyclescheme - the third party, will charge you the pickup/disposal fee - which is supposed to be there so you don't take that option.

If its with your own company, hire it for free as long as possible (I very much doubt cyclescheme will give this option).

Otherwise make sure you get a Cat D valuation on it.