Pool bikes

[G3CWI]

My company has a pool bike - avaliable for staff to use. It's only actually used by me as the staff dont seem to want to cycle. I have been looking at the various HMRC rules and I cannot see any guidance on how frequently this bike can be replaced. I suppose it will get written down in the accounts after three years but can I replace it before that?

 

[Drago]

How do they reconcile the provision of a pool bike with PUWER?

 

[midlife]

Presumably they count it as an asset and depreciate it for tax, I guess you need to know how long that is?

Shaun

 

[midliferider]

Will you have to declare the use of bike as a "benefit" (I can't remember the correct word) that you received from your employer for tax purposes?

 

[G3CWI]

Will you have to declare the use of bike as a "benefit" (I can't remember the correct word) that you received from your employer for tax purposes?

Not as I understand it because it is available for all staff to use. As far as I can tell the only condition is that it is used mainly for work purposes. It is so that's no problem.

 

[Brandane]

Pool bikes ......

 

[furball]

If you have an accident are you insured by your work?

 

[Drago]

It's a piece of work equipment with the potential to cause injury or death, and they have a duty to maintain it correctly and ensure any users are competent to do so.

Maintenance really ought be done by someone qualified and insure - such as bike shop - to protect anyone from a claim should someone get hurt if a part fails. Be interesting to see how they measure a user's competence to operate the bike. Potential for big, big fines or even prison if they fail to do so and the wheel comes off, so to speak.

 

[bikingdad90]

It depends on the company depreciation policy as published in the statutory accounts. Each company is different but I would estimate somewhere between 3 and 5 years. If the assets come to the end of there useful life early they usually accelerate the depreciation and dispose of it through the income statement.