Ever bought a bike on b2w? Then the taxman is after you because he's decided to *retrospectively* revalue your bike. [url= http://www.eta.co.uk/2010/09/02/taxman-decides-cycle-work-scheme-loophole ]Read this[/url]
done to death on here I am afraid Nainosliw 🙂
didn't realise they were applying that retrospectively. 😯
can they do that? I mean the contract is signed and terms agreed already?
It's not retrospective as there is no change to the existing rules. This merely "clarifies" what was meant by "market value".
I guess I'll get a bill for another £200 🙁
Seems that site also missed the announcement by the HMRC clarifying the details.
they can have mine back there both ****ed! 😆
Cheeky bastards. To apply it retrospectively is taking the piss.
There are well documented ways of reducing the final payment.
Most of which have been done to death on here.
The HMRC guidelines don't state that you have to buy the bike at the end of the 12 months. A few places are getting round this by allowing the hire of the bike (at no extra cost) for up to 5 years whereby the guidelines state that fair market value drops to 0%. Easy
Andyhilton - Member
Cheeky bastards. To apply it retrospectively is taking the piss.
Nothing is retrospective. They are merely clarifying the rule which has always existed.