Cycle to work scheme, cana BR do it?

mighty_reds

Funny looking question I know. It relates to this

http://www.cyclescheme.co.uk/

I've got a cheap bike and cycle to work. I've been with my employer for about 2 years and if they run the above scheme (have been told they do) I can a get brand new bike and equipment worth up to £500 or £1000 depending on what scheme the company use.

I would then pay back through my salary over 12 or 18 months and because of "tax breaks" and some "VAT perks" which are all perfectly legal I end up paying between 50% of the value of the bike.

Technically there's no right to own the bike after the term but apparently you nearly always get offered the bike at 5% to 10% of it's original cost.I need to look into that further.

This is not really about me "living it up" it's just a few months ago I made a decision to cycle to work to save the £30 travel costs each week and to also get fit, but I got the cheapest bike going and it's a nightmare.

But I'm on NT and get all my salary gross without tax which I then send to Moonbeever. Does anyone know if I can participate in this scheme? I was thinking I might need to ask Moonbeever?

Cheers

philnicandamy

with you being on an NT coding I very much doubt you would qualify...

some more info here

http://www.cyclescheme.co.uk/employee,faqs.htm

nothing to stop you asking though & see what moonbeever said..

mighty_reds

Will let you know how it goes Phil

philnicandamy

mighty_reds wrote: »

Will let you know how it goes Phil

Look forward to hearing......then I can add to my bankruptcy bits and bobs folder if the question ever came up again in the future (I know...I need a life! :D:rotfl::rotfl::rotfl:)