It's likely that a few of you will be thinking about the whole Bike to Work thing again. And I know that many are worried about the end-of-lease payment as it's seldom quantified at lease start. I've just received a letter from my employer asking me to settle up or donate the bike to charity. They want Â£20.....
Bike to Work Scheme value
I thought the final payment was akin to a 13th month. i.e. no more than 50 quid (for a 1000 quid bike over 12 months).
The Tax Man considers 5% of the initial cost to be a "fair market value".
Mine was a Â£1,000 bike (Focus Cayo) - over 12 months.
I paid Â£50 for a Â£1000 bike, if that helps anyone.
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