- Cyclescheme Question
Age of cycle
Acceptable disposal value percentage you must pay
1st number = Original price of the cycle less than £500
2nd number = Original price if the bike was £500+
1 year old…
6 years & over
Do what I intend to do – ride it, then leave it in the shed for 6 years.Posted 6 years agonockmeisterMember
You now have 3 options:
1. Under a separate agreement with Cyclescheme, you pay a small, one-off refundable deposit (3% or 7% including VAT of the equipment value*) and continue to use the bicycle for up to 3 years. The monthly payments are zero. At the end of this period, Cyclescheme refund the deposit if you do not wish to keep the equipment.? This option will cost you £70.00.
2. Take ownership of the equipment by paying Cyclescheme a much higher valuation (e.g., for a one year old bicycle this would be 18% or 25%* of the certificate value in accordance with HMRC requirements).? This option will cost you £250.00.
3. Return the bicycle to Cyclescheme, at your own cost.
on my voucher worth 1kPosted 6 years ago
The topic ‘Cyclescheme Question’ is closed to new replies.