Rhobbs-
Police? LoL.
When i worked at HSBC the limit was 2k.
It’s not the scheme that sets the limit, it’s the business. £1k is a good limit that was generally settled on in the relatively early days when the scheme was being exploited by people buying £6k DH rigs and getting the tax saving. The idea is you can get a decent commuter for that.someone has to stump up the credit for the initial purchase, if there were no limit, there wouldn’t be enough money to pay for the bikes in the first place as everyone would be going silly buying DBADs with S&S and electric CHPT3s.
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The £1k limit was mainly for ease of admin. More than that and I think you needed to be FCA registered or something which a lot of banks, local councils, etc are.
There are plans on changing the limit to promote e-bike sales but I don't know what's happening with that.
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TM
aggi
It varies scheme to scheme, employer to employer, salary to salary.
Last time I did cycle scheme if I had paid the final payment it would have been same as full retail.
The 3 year extension meant I saved about £150-200 that was on an 1800 bike.
You’re higher tax band right? What happened at the end of the year?