After asking you lot for some advice last week about car allowances/company cars, I did lots of research and geeky speadsheets working out the true cost on my take home pay etc.
The stumbling block for me is that I will be a new driver, but I have to keep the car for 3 years – so whilst a Golf might be suitable for me as a new driver, I couldn’t help but feel I’d be wishing I’d taken the BMW after a year. I don’t actually need a car for work at all, it’s just a perk.
So I’ve decided to take the car allowance instead for the moment.
However, after passing on this info to the HR department of my new employer, I said that I would probably cycle to work as much as possible since it’s only 10 miles and has a proper cycle path the whole way with some scenic stuff along the route.
I was then told that the company will pay my mileage from home to work even if I cycle! That’s awesome! What an incentive to get on the bike. It’s not a huge amount, and it will be taxable, but when you add it up over the year it will easily buy me a new bike or pay for a holiday.
Do other employers do this? It’s probably the best corporate incentive I’ve ever seen to get people to cycle to work. I know I’d still get the same mileage claim if I was in the car, but that’s to cover fuel, wear, maintenance and depreciation etc – but the running costs of my bikes is practically nil (other than my own desire to buy new shiny stuff whenever I can). So it’s just money in the bank for every mile I cycle. 🙂