- Boring Cycle to work scheme question
Ola, I am considering buying a road bike on the cycle to work scheme but unfortunately I am currently a member of joblesstrackworld. I was thinking of getting my mam or dad to get it on theirs (sad at 25 I know) and my question is does the discount depend on your tax rate? Mums a teacher on 20something % tax and my dad’s on top rate. Would I get the bike cheaper on my dad’s scheme or doesn’t it matter?
Any advice welcome,
JoePosted 9 years agobarcaMember
If it’s through Cycle Scheme it most certainly is NOT fraud as the bike being purchased under the proviso that the majority of journeys to work are made using the bike has been removed. This is borne out on the agreement paperwork that I signed for mine yesterday and somebody asked the guy implementing it to confirm checks wouldn’t be made as he’ll not be using his for work despite what it says on the website. My employer (local council) even promotes the scheme as “being an excellent way to get you or a family member fitter and healthier by cycling”,Posted 9 years agothepodgeMember
right, i looked into this and (if i understand it correct) technically YOU don’t own the bike. your employer does. at the end of 12 months they can offer to sell you the bike for a “nominal fee”. otherwise it would be hire purchase which isn’t tax deductible.
now my boss is a bit of a swine and he has a son about my height / build. I’d be willing to guess that after I’d paid out all that cash, some how I’d not be offered to buy it back.
this is all cool if you have a good boss or are in a big enough company for no one to care but i thought I’d just point it outPosted 9 years ago
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