Cycle Scheme

i think the final/13th payment is a nominal sum decided on by your employer based on wear and tear etc, i.e could be £50 0n a 1k ride. problem is when you leave the company before the year you get battered. :(

The scheme at my place is run by the supplier of the bikes so in exchange for a selection from the big brands only we got 10% off RRP plus the tax benefit.

My Allez Elite 09 was £881 instead of £978.

Some stores are prepared to take the hit themselves in return for the sale - my employer uses the Halfords scheme, but I bought a bike from Pearsons - they will only see 900 of the £1000 but they are prepared to eat it because it gets them more people through the door.

Also, they let me buy £800 worth of bike and bits and left £200 on credit for me. Which was nice.

I am not sure whether to start a new thread about this or not, so am playing it safe by seeing if it gets any attention here:

Is there any way that we can register the forum to accept cycle to work vouchers, so that people selling on here can accept them in exchange for classified sales.

I have no idea how this could work from a legal, accounting, organizational, and funding perspective. But, it seems to me that there is an outside chance that we could do something cool here for forumites.

And yes, I am looking to buy a bike from here at he moment!

Any thoughts?

Technically theres no reason you couldn't register the forum as a business and everyone as employees so that they could join the c2w scheme. I don't think it would work for second hand bikes though.

I think it only works for bikes that are subject to VAT on purchase, ie brand new ones, unfortunatley.

^ It's a salary sacrifice scheme so there needs to be a salary involved.

^any virgins around?

C2W scheme works as the money is deducted from your wages by your company every month before any tax or NI deductions are made and that is where the saving is made.

At the end of the year you may have to pay up to 10% as a fee to "buy" the bike from your company. I was made redundant and had a letter through about the final payment so I told them I didn't want the bike and they could collect it in Gdansk as I have moved, two weeks later they said they'll drop the fee and I can keep the bike ;p

I don't want the forum to be able to issue to c2w vouchers or to act as an employer.

I want the forum to act as a bike vendor that can accept the vouchers and get cash for them.

Is possible?

Does anyone have an example please of an extended hire agreement so i can persuade my company to implement this scheme ?