I thought cycling was supposed to save cash !

[Tin Pot]

Have a look in the I'm shrinking thread

I can't bring myself to open that thread.

 

[Slick]

C2W seems desperately unfair in that if you pay no tax there is no saving and if you're a higher rate tax payer you save more than those on the lower rate.

Maybe they should knock the VAT off for those not paying income tax.

That's a good point and really should be addressed to make it affordable for all.

 

[cyberknight]

Set the money aside that you were using to pay for the car loan and put it into the bike finance..

You won't miss it and if you're anything like me it would get frittered away otherwise.

I bought new windows for the house, retiled the kitchen, bought my Gtech bike all one after the other using same monthly payment.

Ended up buying another car after that but there's always something to show for it!.

I'm quite used to being "skint" now so no worries!.

That will be used to clear the overdraft, And work announced further line slow down and probable redundancies .

 

[cyberknight]

Have a look in the I'm shrinking thread

lol people moaning they are 5 foot 11 sheesh , im about 5 foot 7 and shrinking

 

[screenman]

That will be used to clear the overdraft, And work announced further line slow down and probable redundancies .

In that case it is certainly not time for a new bike..

 

[Oxo]

lol people moaning they are 5 foot 11 sheesh , im about 5 foot 7 and shrinking

Ahead of the game then.

 

[Soltydog]

C2W seems desperately unfair in that if you pay no tax there is no saving and if you're a higher rate tax payer you save more than those on the lower rate.

Maybe they should knock the VAT off for those not paying income tax.

If your company is VAT registered they will more than likely claim the VAT back, but will they pass that saving on to employees? My employer doesnt pass the VAT saving on, & then they charge VAT on the final purchase payment

 

[ChrisV]

C2W is not unfair. I pay loads of tax, so surely I should get to claim some of that back? If I've to accept paying so much in tax is fair, surely it's fair to get more back in a tax break?

 

[screenman]

If your company is VAT registered they will more than likely claim the VAT back, but will they pass that saving on to employees? My employer doesnt pass the VAT saving on, & then they charge VAT on the final purchase payment

Can you please simplify that.

 

[Soltydog]

Can you please simplify that.

If you buy a bike for £1k there will be £167 VAT in that, which the company can claim back if they are VAT registered. With our scheme you still pay the full amount divided by the number of monthly payments & then because no VAT has been paid, when it comes to the final payment to buy the bike from your employer for £x + VAT

 

[screenman]

If you buy a bike for £1k there will be £167 VAT in that, which the company can claim back if they are VAT registered. With our scheme you still pay the full amount divided by the number of monthly payments & then because no VAT has been paid, when it comes to the final payment to buy the bike from your employer for £x + VAT

Have you looked up the changes that came in 2012.

 

[bikingdad90]

If your company is VAT registered they will more than likely claim the VAT back, but will they pass that saving on to employees? My employer doesnt pass the VAT saving on, & then they charge VAT on the final purchase payment

That is not correct. They can reclaim the VAT but then have to repay 1/12 for a year as the deduct the payment from you so it is cash neutral.

 

[screenman]

Some people think that if I buy a new car then I can claim the whole lot back from the tax man< I wish.

 

[mustang1]

Keep a log of all your cycling expenditure. I keep such a log. Everything cycling related (but not food) goes in there including

New bikes (well of course)
Train travel costs when not commuting by bike
Bike clothes and accessories
Servicing and parts

 

[cyberknight]

Ahead of the game then.

You could say that .....