Ride 2 work bike transfer

[Jeanbrodie60]

Please forgive me if this has already been discussed to death and I've missed the comments - I'm new!
Here's the question:
It's 4 years since I entered the ride 2 work scheme and my boss and I have decided that the bike should now be transferred to me in the quickest and cheapest method possible (he's a good guy)! We are both a little confused as to the best way to do this. Please help!

 

[boydj]

The bike should have been registered as an asset belonging to your work and depreciated on the company books. The bike should now be worth nothing and can be 'scrapped' as far as the company is concerned. Technically you can be given the bike and the value of the bike treated as taxable income. After 4 years it is my understanding, based on my experience with 'Cyclescheme', that HMRC accepts that a 4-year old bike has been fully depreciated and is worth nothing.

 

[nazzurro19]

i was told by halfords that it differs between companies but they usually give you the bike after the 5th year