Hi,

Has anyone taken advantage of the cycle to work scheme?

I've just ordered a bike worth 500 quid and after tax savings etc, it works out to £260.

I went for a specialized hardrock sport disc 2012.

Cheers,

Paul.

44 mile round trip,..... with my reputation, .....  .
Experience is the only genuine knowledge, but as time passes, I have forgotten more than I can remember
Volvo V70 P2 2006 2.4 Petrol 170bhp Estate SE
MG Midget Mk1 1962

Previous: L322 Range Rover TDV8 3.6 2008; L322 Range Rover TD6 3.0 2002; P38A Range Rover V8 1999

I used the scheme a few years back and was great. £1100 bike cost me about £550. Not sure the scheme is as good any more as the cost to transfer it to your name cost about 20% of the value. Obviously cheaper than buying off the shelf but not by alot. [img]http://www.fuelly.com/driver/rob2529/range-rover[img/]
04, 4.4V8, Vogue Oslo Blue with LPG.
"You can sleep in your car, BUT you can't race your house!!!!"

If something can't be fixed with a hammer....... You have yourself an electrical fault!

Its 16% on a bike under 500. It just goes on Your p11d as a benefit at the end of the 18 months. So basically you pay the tax on about 80 quid......which is all!

Works out to over 200 quid cheaper than retail.

Like Joe, a 30 mile round trip.

With my body, that wouldn't be good for anyone.

Which was why I bought my FF in the first place.  Si. <This is my name.

I eat rat poison.

A man ain't truly been insulted until he stands buck naked in front of a woman and she didn't even notice. Or care.

It only goes on your P11D if the company you are working for agrees to absorb the end purchase cost or if you work for a company with a PSA then you get the bike at the end for no tax charge.

I assume that you do use the bike to cycle to work as HMRC are starting to crack down on abuse of the scheme. I was discussing a scheme run by an oil rig supply company who were trying to justify how workers on oil rigs could justifyably use the scheme, HMRC don't seem to accept that they workers would travel to the Heliport with all their luggage on a bike  56 TDV8 Vogue SE
9 Freelanders, 2x 2002 TD4ES, 2001 TD4, 2002 1.8GS, 2000 XEDI, 2x 2000 1.8ES, 2004 1.8 & 2000 1.8 GS (rolled)
91 Lotus Carlton (sold)
90 Lotus Elan (BRG)

I see. I presumed that's just how it worked on the scheme. My company will be absorbing the cost then.

Paul.

It was done by my place of work a few years ago. There were some queries how people were riding to work on kiddies bikes  No longer FF owner but still interested. Present car Jaguar XE
............................................

Previous car Td6 SE
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Previous LR- Disco 300TDi Auto

Its not as good a scheme as it used to be. They've clamped down on the final payment options. It used to be that the final payment would often work out at a 13th month's payment and that would be it. Now its more like a few months final payment to buy out the bike. ( the alternative is a small deposit and the bike stays the companies for another 2 or 3 years , then it becomes yours )

I have 2 bikes through the scheme over the years. I'm glad I did, but wouldn't do it again.

I saved more than the cyclesheme setup would save by buying a bike for my wife in a summer sale. I think if you can afford the one - off price, then looking for a sale bike ( like an end of year model ) would save you more, and the bike would immediately be yours. V8 or else ...

Our place recently stopped it from last year.

I guess it was because a lot of people over 25miles away were getting bikes of about £1500 and then flogging them on for profit afterwards which was a bit unfair for the people who actually got nice bikes and used them

Most places lock you down to certain supply companies and ours was halfrauds or if they couldn't source it others required directors approval...

I didn't bother as i worked out i could get less hassle and get the bike i wanted from where i wanted for only a few quid more, £500 vs £480 all in, and i got it within a few days of ordering

I know guys who have bought £2-3k carbon type race bikes and who actually do once or twice a week come the 30miles to work but they are amateur types who do it at weekends and stuff

I just wish they would do a train season ticket scheme to get the price of that down

TBH hunt round the internet for the bike you want and compare the price to where your employer would want you to get it and see how it works out as they usually have specific sites you login to for their C2W scheme price. FFRR MY06 facelift With TDV8 Alloys Zeros/ATR's
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To continue from Pleb I went to our local bike shop and they were happy to supply me a bike much more than the scheme would allow and pay for it interest free over 12months. So removed the need to use halfroads and the bike was always mine. Could be an option if you want something excotic. [img]http://www.fuelly.com/driver/rob2529/range-rover[img/]
04, 4.4V8, Vogue Oslo Blue with LPG.
"You can sleep in your car, BUT you can't race your house!!!!"

If something can't be fixed with a hammer....... You have yourself an electrical fault!

I tend to agree the scheme is no longer worth it now that they have removed the VAT concession and provivde the suggested end of lease charges.

I have just gone through setting up this year's scheme in the company that I work for and the savings are really disappointing. 56 TDV8 Vogue SE
9 Freelanders, 2x 2002 TD4ES, 2001 TD4, 2002 1.8GS, 2000 XEDI, 2x 2000 1.8ES, 2004 1.8 & 2000 1.8 GS (rolled)
91 Lotus Carlton (sold)
90 Lotus Elan (BRG)

I didnt do it as the police wont absorb the final cost and on our forms the final payment is too much . As my lad works part time in Evans we just got one trade - much cheaper but I guess Im in a fortunate position with him there.

I got a BMC road bike and about £750 off far better than any scheme  2006 MY Autobiography. With 'toys'
Honda ST1300 Pan European

Gone
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TJF by the way for anyone who knows what that means.

I've never really looked into this but, by coincidence, was chatting to a colleague yesterday about it.

As I'm effectively self-employed, the notion is that I can buy a bike and my company pays half the cost tax-free.

With a very decent bike shop in our village, this could make some sense as I sold my Trek when in Australia and haven't yet replaced it.

And, because I own my own company, I guess it's my choice where I buy from. Si. <This is my name.

I eat rat poison.

A man ain't truly been insulted until he stands buck naked in front of a woman and she didn't even notice. Or care.

Over here it has been a great success. I know a few people who also just bought cycling gear out of it and the shops would just make up the receipts to say they were bikes..