Is cycle-to-work scheme open to the self-employed?

Yellow Fang

Legendary Member
Location
Reading
I had a friend ask me some advice. I don't know why <Manwell> I know nothin' </Manwell>. Can a self-employed person buy a bike on the cycle-to-work scheme?
 

mcshroom

Bionic Subsonic
Accoding to Bikeforall.net the answer is no: -

EXCLUSIONS
Employees of charities, universities, the armed forces and many parts of the NHS are usually denied a VAT saving.
Plus, if you don't have a PAYE salary, you can't take part in a Cycle To Work salary sacrifice scheme. The only bike saving for a self-employed person would be to buy a bike via the business and reclaim the VAT, if VAT registered that is.
 

marcw

Well-Known Member
are you working as a LTD company? If so the answer should be yes as you can sign your company up. If working through an umbrella, not unless the umbrella company signs up as they are your employer.
 

marcw

Well-Known Member
I'm also self employed and Evan's scheme looked easy. You register your company and tell them how much you want to spend, you apply for a voucher. They do a credit check on your company to make sure the cash is there, and then send you a voucher. You get the accountant to sort out the salary sacrifice. I've only just setup my company so haven't been through the whole process but it seems pretty straight forwards. Be aware that there are different schemes for different shops.
 
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