Say, I wanted a bike from a manufacturer that my company’s chosen cycle to work outlet (Evans) don’t supply – i’m guessing i’d be at liberty to sell my £1000 voucher (discounted, no doubt) and use the proceeds to bugger off and buy the actual bike I wanted? That’d work, right?

Therefore still saving me a wedge on tax, and spreading the cost to boot.

Not unless you wanted to commit fraud.
The scheme is a hire agreement between you and your employer so nobody else could ‘buy’ this from you.

And also, goods bought via the scheme are sold at full price so then chance of someone paying more than £900 is doubtable.

Carefull slimjim 😯 I bet you didn’t realise your plan was a terrible crime. Don’t worry there’ll be plenty of people on here queuing up to get you on message 🙄

haha.

yeah, a bit of fraud never hurt no-one

In essence, you are buying a voucher in order to sub-purchase ‘goods’ up to the value of £1000 in order to get to work by bike and/or become healthier. My understanding is that you don’t even need to buy a bike, but instead could blow the lot on, say, gloves. If you wanted to.

So if I used the voucher by proxy to buy a bike elsewhere?..
Plus passing on matthews recommendation of £100 discount to another lucky punter.

I’d be paying back the voucher to my company. And i’d be riding to work. I’m struggling a little bit, maybe its my criminal mind. But is it actually fraud?

I guess youre not paying the tax on the voucher, and so if went and spent the voucher on a knees-up in Ibeefa… Hmm. Ok. maybe a bad idea.

It’s fraud because the goods bought with the voucher actually belong to your employer (or scheme provider) until the end of the term (usually three years these days?)

The fraud bit is you selling a voucher for a bike that you’ll be hiring from your work rather than owning. What happens if you decide that you no longer like your job and pack it in?

If you’re going to do it, do it with a mate or family member, not a random

Yeah. Mouth/foot interfaced on this one I think

Also you have an end of lease payment to cover etc.
Personally I’d be looking at doing it at cost (IE they pay your monthly payments) to somebody close not a stranger.

Surely if you sell the voucer at a discount you lose out on more or less original saving made by the scheme!? Unless you pay the higher band of tax in which case why worry about a £100 saving or so!?

I was under the impression that ctw was effectively a “hire” agreement with your employer, with the option to buy the goods at end of period, not sure how that works if you just buy clothes/saftey gear and no bike though? Spode you are hiring your outfit?

Oops double post