Bike to work scheme 2016

Nasqueron

Mr_Singleton wrote: »

You say that the the saving is guaranteed when its not. If I buy a bike in a shop then the saving IS guaranteed at the price you paid if you buy it on a salary sacrifice scheme you won't know the saving until you fully own the bike which is what? 4 years down the line. If at any time your circumstances change i.e you leave the company

The only issue is if you leave your job during the 12 months it is running in which case you lose any remaining tax saving as you have to pay the balance off. The 2-4 year period of "extended rental" is a fixed deposit up front with the bigger schemes, there is no variation or hidden costs, there is the tax saving during the first year and then the deposit, period.

Mr_Singleton wrote: »

I, the bike is nicked or a whole host of other rules the savings get reduced.

How are you losing savings if your bike gets stolen? How is it different to buying a bike on 0% and getting it stolen? Either way you'll be paying off a bike you don't have. What are the "host" of other rules?

Mr_Singleton wrote: »

Yes, I agree its possible to save 42% but ONLY if your a high rate Tax payer i.e you earn more than £43,001 a year which I'm going to suggest isn't going to be a large proportion of the people who are looking to use this scheme. Looking at Evans shows 60 bikes in the £500 to £1000 category with discount of up to 32% and 0% Finance which matches or betters what most people could get under these salary sacrifice scheme's but with NO STRING ATTACHED.

It's still 25% saving as a lower rate tax payer after the deposit is paid. As I said previously, if your saving is more than 25%, 0% purchase card or finance is better (assuming the bike shop won't let you do the C2W on a small discount) but less than that C2W wins