Frame on Cycle2work Scheme

gb1 · June 2007

The company I work for have just joined the cycle2work scheme, does anyone know if you can buy a frame only on this scheme or is it complete bikes only?

If only I could ride as fast as my bike looks!

tyskie · June 2007

Interesting thought. I think it only applies to bikes suitable for commuting though and so you would probably have to get the frame and the rest of the kit added from the same shop. The Evans site has got quite a lot of info on the subject.

Unknown · June 2007

I hads an interesting conversation re this the other day...

'why don't you buy a bike for œ1000, and then bring it back the next day we'll refund it for you and yuo can buy what you want.....'

different take on the rules..

cheers,

Rich (A commuter at last)

The stupid deserve to suffer...

DavidTQ · June 2007

One of the LBS I visit more regularly for bits and pieces seemed very flexible on what they were prepared to put down on the invoice to the company. Including splitting the bill so the company got a œ1000 invoice and I paid the rest.

AcademicX · June 2007

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by gb1

The company I work for have just joined the cycle2work scheme, does anyone know if you can buy a frame only on this scheme or is it complete bikes only?<hr height="1" noshade id="quote"></blockquote id="quote">

It should/must be a complete bike.

I'm sure that, depending upon which scheme you use, you could find a LBS that would be prepared to do any of the things listed above; 'abuses' of this nature will ultimately cause the government to reconsider the tax breaks and possibly withdraw them like they did for the Home Computer Initiative (when it became apparent that the scheme was being 'abused').

RufusA · June 2007

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by gb1

The company I work for have just joined the cycle2work scheme, does anyone know if you can buy a frame only on this scheme or is it complete bikes only? <hr height="1" noshade id="quote"></blockquote id="quote">

The Finance Act 1999 only makes provision for:

(a) a cycle, or
(b) cyclist's safety equipment,

(2) In this section "cycle" has the meaning given by section 192(1) of the Road Traffic Act 1988

Where as we all know the RTA helpfully defines a cycle as:

"cycle" means a bicycle, a tricycle, or a cycle having four or more wheels, not being in any case a motor vehicle,

So a frame on its own is not allowed, and you have to be able to use it for 50% or more of the time for commuting etc.

HTH - Rufus.

RufusA · June 2007

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Rykard

I hads an interesting conversation re this the other day...

'why don't you buy a bike for œ1000, and then bring it back the next day we'll refund it for you and yuo can buy what you want.....'
<hr height="1" noshade id="quote"></blockquote id="quote">

An interesting idea, but sadly it could be classed as theft.

The bike etc. is not your property to get a refund / return on. Once purchased it belongs to your employers, appears as an asset on their books which they depreciate etc.

You don't have any legal ability to dispose of it / change it until it passes in to your possession at the end of the scheme once you have paid your employer the "fair market value" for it.

In reality you'd probably get away. However things could get sticky if an auditor wanted to carry out a random check on assets.

HTH - Rufus.

domtyler · June 2007

I will be able to do this next April and was thinking of buying the complete bike but specifying a ?50 frame ?50 groupset and ?900 wheels.

~~~~~~~~~~~~~~~~~~~
Porridge not Petrol
________
Wicca Forum

Unknown · June 2007

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by DavidTQ

One of the LBS I visit more regularly for bits and pieces seemed very flexible on what they were prepared to put down on the invoice to the company. Including splitting the bill so the company got a œ1000 invoice and I paid the rest.
<hr height="1" noshade id="quote"></blockquote id="quote">

This is common, you just pay the excess if your compnay is caped to œ1000.

Technically you should only buy a whole bike, however if you take in a groupset and wheels and "sell" them to the shop and buy them back (you have to know the shop quite well for this) then that is fine. Also you could just spend a few œ's on a cheapo groupset and wheels and then sell them on ebay or the like.

Finally just remember that your company owns the bike until you buy it, if you sell the bike/make changes to it then the company is well within its rights to get you to return the original machine (which may involve buying another bike!).

AcademicX · June 2007

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Iron_man

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by DavidTQ

One of the LBS I visit more regularly for bits and pieces seemed very flexible on what they were prepared to put down on the invoice to the company. Including splitting the bill so the company got a œ1000 invoice and I paid the rest.
<hr height="1" noshade id="quote"></blockquote id="quote">

This is common, you just pay the excess if your compnay is caped to œ1000.<hr height="1" noshade id="quote"></blockquote id="quote">

According to the literature from Halfords....."you are unable to top-up over the amount you elect using your own funds........this change is following recent HMRC and DfT advice regarding the operation of the scheme".

Unknown · June 2007

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by AcademicX

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Iron_man

This is common, you just pay the excess if your compnay is caped to œ1000.<hr height="1" noshade id="quote"></blockquote id="quote">

According to the literature from Halfords....."you are unable to top-up over the amount you elect using your own funds........this change is following recent HMRC and DfT advice regarding the operation of the scheme".
<hr height="1" noshade id="quote"></blockquote id="quote">

Fair enough if that is the case. I got mine in Evans, no choice in the matter, and they were more than happy to charge me the rest.

if this is changed then sorry, my advise is a bit behind the times.

Frame on Cycle2work Scheme

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