Cycle to work scheme

Eddie you are confused.. there are no 'outlets' for the cycletowork scheme.Although some companies like to play on the name

It is simply the name of a tax policy implemented by the government

https://www.gov.uk/government/publications/cycle-to-work-scheme-implementation-guidance

Evans = a cycle shop nothing to do with it
Halfords = a cycle shop nothing to do with it
cyclesolutions = accountancy firm nothing to do with it
cyclescheme = accountancy firm nothing to do with it

Download and fill in the forms yourself.. buy your bike of any value from anywhere you like (wouldn't push it above £2k)

Does anyone have experience of buying a bike from Evans through cycle to work?

My employer will only use Evans and I'm wondering if they enforce the £1k max strictly or if in practice they may allow me to top up value if I want a more expensive bike...

They let you top up .. if evans then why not 0% finance with price match? With C2W they wont price match and you arent gaining much unless you plan to stay at your current employer for 3+ years

amey, that's good to know, cheers. I had hoped that would be the case, but their website says you definitely can't.

I am fairly sure C2W will be cheaper due to the tax position - I'll save 40% on the cost of the repayments by paying out of my gross salary, and my employer's policy is to give the bike to me at the end of a year as a benefit in kind (meaning I only pay 40% of the value remaining then).

I know Evans are expensive, but they'd have to be matching prices of around half the value of the bike to make the sums match up - unless i'm missing something?

They make you promise not to fall off, Andy, so it might not be for you. :)

I don't think you need to be a criminal mastermind. If your employer can be persuaded, you can do it all yourself. See this site: www.simplec2w.co.uk

You can download everything you need to run a scheme form here: simplec2w.co.uk I've just done it and it was very easy.

Sailing, any feedback of the simplec2w scheme before I offer it to employees?

So pissed off today :-(

I was looking forward to getting my new bike on the scheme, and then my employer decided to tell me that I couldn't have it as I work from home for three days of the week.

That classes me as a "homeworker".

I've put the deposit down, booked my holiday and now I've got no bike for it.

I have decided my boss is a cunt.

Anyone any ideas?

ps. £50 in the hand of anyone whom can get the bike for me through their work.
Ha-ha! Fuck the government ;-)

Get it via no interest finance instead.

I agree with ed just go 0%. The savings through cyclescheme are not that great if you factor in buying the bike at the end of the agreement.

I'll have a look into it.

Thanks x

You own me £50.

There was no fee for buying the bike at the end of the agreement with my work.

I don't owe you £50.

I agree with ed just go 0%. The savings through cyclescheme are not that great if you factor in buying the bike at the end of the agreement.

Why would you do that?

The savings are awesome, I couldn't buy another bike now without it as extra 40% cost would hurt to much.

On my 5th bike.

My understanding of the cycle to workscheme is its use must just must be for over 50% of all its journeys, could be 1 or 1 million just so long as its over 50%.

If you are a home worker I assume you are claiming each day you do travel into the office as a work travel expense?

I work from home, can I cycle to work? :) Or maybe get a turbo trainer under my desk

i see nothing in the guidance that says you have a minimum amount of days to qualify.

i do see a statement that if they offer it to anyone it has to be made available to ALL employees.

scottmac, do some research on the hmrc guidance and go back to him with clear reasons why his statement is bullshit.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/11308/cycle-to-work-guidance.doc

If your place of work is your home but you are using the bike for business to travel to another office location then you can claim back all the tax as a business expense anyway.

Why would you do that?

because he clearly stated that his work would not allow him to do cyclescheme

0% finance would be the next best thing, obvs.

This has been asked before I think, but I've found conflicting answers - who has had what results buying at evans (only place I can go with work) and topping up with real moneys to get something over the 1k mark?

They'll let you top.

Put a thousand pound bike when applying for the voucher.

Thanks - good to know. I've heard the contrary but am only really in the market for something above the magic 1k mark, and am nervous about getting the voucher in case they say no

I was recently looking at bikes on the Bike To Work scheme and checked out what was available in Evans. They were quite happy with the idea of me buying a more expensive bike than the voucher would cover if I wanted to top up the remainder.

I can't imagine you would have a problem with trying to give a company more money. However, if Evans to find some reason to decline, just go to another bike shop.

similar question - could i just buy 'stuff' at Evans? (It does have to be Evans, mind, my work are annoying about that)

I've also just noticed that i asked this question in the same thread months ago. I worry about my ability to UTFS and my memory