[Closed] Cycle to work Query

I don't think there's a tax reason why you can't have multiple vouchers. There might be scheme / employer restrictions though.

My company restricts you to one voucher at a time.

Looks like a scheme restriction...

Schemes are only allowed to issue 1 per year. You have to wait until your full year is up

Or get the wife/husband/significant other to take one out.

Or get the wife/husband/significant other to take one out.

Probably won't be checked up on, but if the employer looks into it they are perfectly entitled to say it is fraudulent use of company finances. Years ago at Evans we cracked down on this massively, refusing to sell a bike that wasn't fitted primarily to the voucher holder. We got loads of abuse, mainly from men looking to buy a bike way too small for them which they had openly admitted was for a wife/child. Most of them claimed they had no idea they couldn't do that, despite it being front and centre of the application process. It's fraud, pure and simple

Most schemes don't allow you to start a new application until the old one has ended, remember that this covers the whole period, not just the 12 month payment, but any additional rental period before the bike has no additional cost, in our place that's 5 years in total, so if i get a voucher and never pay the percentage to own the bike at Years 1, 2, 3 or 4, then i have to wait the full term to reapply.

As always, you can pay up after the year to get out of your current application, so you can then do another one, but it means you've pretty much paid retail for the last one!

I did one last year, paid the fee to own it in 4 years and started another almost straight away. Same employer, same scheme provider.

In fact, the scheme provider emailed me to suggest starting another.

remember that this covers the whole period, not just the 12 month payment, but any additional rental period before the bike has no additional cost, in our place that’s 5 years in total, so if i get a voucher and never pay the percentage to own the bike at Years 1, 2, 3 or 4, then i have to wait the full term to reapply

Nope.
That's unfortunate for you. Neither of the schemes I did operate like that.

remember that this covers the whole period, not just the 12 month payment, but any additional rental period before the bike has no additional cost, in our place that’s 5 years in total, so if i get a voucher and never pay the percentage to own the bike at Years 1, 2, 3 or 4, then i have to wait the full term to reapply

Not mine, I was offered a new voucher after the 12 month period was up.

This

Schemes are only allowed to issue 1 per year. You have to wait until your full year is up

and this

Most schemes don’t allow you to start a new application until the old one has ended, remember that this covers the whole period, not just the 12 month payment, but any additional rental period before the bike has no additional cost, in our place that’s 5 years in total,

are poor advice based on a lack of understanding of the scheme. There is no limit on how many agreements you can have in place - you could literally order a new water bottle every month and pay for it on a C2W scheme as long as your admin team were happy for you to do that. The employer may put certain restrictions in place (salary cap, etc) and may tell you that they will only allow one agreement, but those are just in-house restrictions. The actual guidelines don't say anything about it. I have two agreements running alongside each other, as do several of my colleagues - one for a bike, one for parts and accessories.

Don't forget that there are several providers with slightly different ways of working but afaik none of them insist on you not taking out another agreement within 5 years. Cycle Solutions certainly don't, and Cyclescheme didn't do it when I last had a bike through them.

This

Schemes are only allowed to issue 1 per year. You have to wait until your full year is up

and this

Most schemes don’t allow you to start a new application until the old one has ended, remember that this covers the whole period, not just the 12 month payment, but any additional rental period before the bike has no additional cost, in our place that’s 5 years in total,

are poor advice based on a lack of understanding of the scheme.

Taken from the Cyclescheme.co.uk website:

Unfortunately, if you are partway through your initial Hire Period, you are unable to place another Certificate request until the current one has ended.

I dealt with a number of schemes for years in bike shops, I have a pretty good understanding of them.

initial Hire Period is the period when you're paying the cost back to the scheme, normally 12 months.

Beyond that it's the extended use period. Once that begins you can request another voucher.

I dealt with a number of schemes for years in bike shops, I have a pretty good understanding of them.

I work for a C2W company. I've got more than a pretty good understanding of them. Cyclescheme say that in their FAQs but there is absolutely nothing in the C2W guidelines to limit you to one agreement.