Tax Free Bicycles!

Mabbley

:dance:
My employer has just signed up to this government scheme where the employees can get tax free bikes. There is a calculator on there which works out how much you could save. If you spent £500 on the bike and £30 on the helmet then £20 on other bike bits (total £550) and your salary was for example £16,000 you would only have to pay £472.55 (apparently helmets are'nt taxed).
I havent looked into it in anymore detail but here's the website https://www.cyclescheme.co.uk

Hope this is of use.

:j

arabellacatpig_2

sounds like the scheme my husband used.excellent idea.only drawback he found was having to buy the bike from H*****ds.they weren't very efficient,and didn't seem familiar with the details.that might just be a local problem though.he has ended up with a good bike for a small amount of chivvying

Edindevon

I think a number of different cycle shops are joining this scheme, so you shouldn't be restricted to using one particular shop. This includes online shops who already offer good discounts, such as http://www.buyabikedirect.co.uk/? and http://www.wiggle.co.uk/

Wiggle show a calculation on the potential saving on this page http://www.wiggle.co.uk/CustomerServices/cycle2work.aspx

Ignoring their hype about their discounted prices, they say that a bike and safety equipment with a total cost of £810 would end up costing £461.87 for an employee paying tax at a rate of 22% . This is a saving of 43% which seems to be a lot more than in the original post.

Edit. I've just used the calculator with the figures given by the OP and I see where the confusion iis. They have just shown the price after the VAT saving. After the Income Tax and NI savings, the final price of the bike and accessories would be £318.60, making an overall saving of 42.1%.

Edindevon

itsbeef

Also try Evans Cycles......

http://www.evanscycles.com/ride2work.jsp?item_id=423

Their calculator show that a £600 bike plus £100 of extras would only cost £403!!!!