[Closed] Self employed and the cycle to work scheme

I'd bury it deep within in your annual accounts as a business asset and write it off in 3-4yrs time if I was you, which I am not especially if your a tax inspector trying to find out how people fund their biking habit 😀

Need to be an employee and paid more than minimum wage (ie the deductions don't take you under minimum wage) to be eligible. Sorry.

my road bike i put through as a expense, plus all repairs, parts etc. i only use it to get to clients where possible.

I had a ltd company as self employed IT consultant, bought a Rockhopper Pro with a company cheque, used the Rockhopper for the commute for a few years and held as an asset until I crashed and wrote it off the books "cough".
That way bike comes off the companies money rather than say taking a dividend out to buy one, which would subject to tax etc.

interesting, could you do that as a sole trader?

Not sure that would work, although a large basket on the bars [i]would[/i] enable you to carry a selection of fresh fish

lol!
^^^^ post of the day ^^^^

I am a sole trader, and my accountant told me i could claim mileage allowance for work providing i kept some sort of record and i didn,t take the piss.
I am not sure how much a mile it is though and if i did claim, then i would be doing myself out of money because of my van expenses which is worth more.

i'll be putting an old Pashley on expenses then druidh 😉

AFAIK, C2W is for employees only, not self-employed agents. If I'm wrong, someone let me know, as I have 3 bikes to claim against. 8)

Put them in your accounts, and get the VAT back also.

Buy them as a company asset, have all the paperwork just 'rename' them on your accounts and put them under IT?

Seriously though if you were a Director of a LTD company you could just buy them as a business asset and write-off after 12 months - this is a by-product of the C2W scheme, the employer side.

See the other post that is floating around on C2W.