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Can't the [VAT registered] employers claim back VAT anyway, even though they can't pass the saving on the the employee? The employer effectively makes money out of the scheme.
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If they did this the government would lose 20% tax on every bike sold rather than approx 25% on Cycle to Work purchases only.
It costs the HMRC to create the guidance and for the extra work in checking/policing the scheme.
Knocking 20% off all bikes would probably encourage more people to ride and probably result in a net saving for the Government thanks to improved health. etc.
Dramatic_Hammer
Greenbank
@pjay
Hardly the same as it's a scheme set up by the government to encourage people to cycle rather than something invented by a dodgy accountant to save a millionaire from paying their fair share of tax.
If they did this the government would lose 20% tax on every bike sold rather than approx 25% on Cycle to Work purchases only.