Have you ever put one through your business?
It would be for riding to work on.Not really used for the business but I have just cycled to our accountants which we would normally charge petrol for.
We don’t get CTW so there must be some way of me getting a new bike.
Ps it’s a £1000.

If you put it through as an expense wouldn’t it work out the same as CTW? CTW is just tax free as far as i know.

I don’t know about claiming mileage but i’m sure there was a thread on here the other day about that…

To answer part of your question I certainly know HMRC has a per mile figure you can claim for bike maintainance. Or (like motor vehicles) you can keep receipts of parts required for upkeep and claim them. (We keep a total and whichever’s higher gets claimed)

Mates of mine with their own businesses seem to put everything through their business. One rented himself a flat when he got divorced and it went down as archive storage in the company accounts.

Mates of mine with their own businesses seem to put everything through their business. One rented himself a flat when he got divorced and it went down as archive storage in the company accounts.

That’s just fraud though.

I’m logging mileage at 20p per mile.
Business is registered at home and it’s a 16 mile round trip to clients’ office twice a week.

Just bought a new commuter bike too (not a mountain bike) so will claim for tax back on that too.

You can’t do both though? Mileage and cost/upkeep of bike?
I claim for the bike and it’s servicing costs as it’s used for journeys that aren’t too and from the same place of work but don’t claim anything per mile (accountant sorts all that out)

I don’t think you can officially claim it for commuting but if you are using it to facilitate part of your job it should be ok. It depends on your turnover and whether £1000 out of that is a lot or not, it it’s a tiny percentage I doubt hrmc would bat an eyelid. Think it depends on your own job and attitude to risking it!

Mate is a sparky and “prices jobs” with his bike so puts that through

This has been talked about several times, let me just have a look.
Here we go..

http://singletrackworld.com/forum/topic/self-employed-and-putting-you-bike-though-the-books

I use my bike/s for work daily – commute to meetings, patient visits etc..
I’m certainly planning on putting it/mudguards/rack/rack bag as a work expense.

DrP

zippykona – Member
but I have just cycled to our accountants

And you didn’t ask your accountants this question?

They will know. Or if they don’t, you need a better accountant.

Mates of mine with their own businesses seem to put everything through their business. One rented himself a flat when he got divorced and it went down as archive storage in the company accounts.

You can put anything you want through your books – it’s how the HMRC view it if they come knocking that matters…

DK .Accountant was shut , sticking paper work through his letter box.
Anyway, why ask a highly trained professional when I can ask complete strangers on the internet?

25p per mile is fine – as long as it’s for business use, same as a car (this is the self employed counter to C2W)

Nothing stopping you buying the bike as an asset for the biz – technically you should pay benefit in kind for any personal use.

I’m an accountant

technically you should pay benefit in kind for any personal use.

Surely not if you are self employed, BIKS are Schedule E only, if it only part business, then you can claim % of business use for running costs and capital allowances.

Alternatively you claim mileage allowance of 20p per mile.

Understood, you could go either way though

I think claiming say 50% of the cost through the business would be seen as fair by HMRC. As obviously you’re going to use it for your personal use half the time.

Am I right in thinking it’s a no go if just commuting though?

Mrs BS has a Sports Injury Clinic in town and cycles every day from home, she occasionally uses the bike to go to patients homes or to other sites to work. We’ve never claimed anything through the books, I’m right aren’t I?

I have been known to cycle half a mile to the post office.
A couple of winters back we put my ice spiker tyres through the shop. We couldn’t get the car out and due to a knee injury can’t walk to work.
Surely we need to be prepared for the car breaking down or snow.
Staff cover if we can’t make it is £150 a day and a cab is £20.
Also last time I was self employed I could claim petrol going to work. It always annoyed me that my bike did 120mpg.

Self-employed or Ltd?

Not ltd a partnership.

As far as I’m aware, you can buy a bike as a capital allowance (self managed cycle to work scheme), and claim mileage for using a bike (but not to your main work place). Not sure if you can do both together though, and the bike doesn’t have to be limited to £1000 – that rule is there because of the special credit license required to offer more than £1000 credit that most companies don’t have.

Hope that helps