Tax Free Bikes in the UK and its the government's idea!
davethejackal
Posts: 65
Hi, general tip for anyone buying a bike here, but the Uk givernment has a cycle to work scheme which means:
1. You don't pay income tax or national insurance on the money you spend on your bike.
2. The bike is VAT free.
The only difficult part is that you need the cooperation of your employer, they buy the bike and rent it back to you over a year to cover most of their costs, then rely on you buying it at the end to recoup the remainder.
Most big cycle shops support it, e.g. http://www.evanscycles.com/ride2work.jsp
There's even a company that will handle it for your LBS: http://www.cyclescheme.co.uk/
Details here: http://www.dft.gov.uk/pgr/sustainable/c ... mentat5732
Any chance this gets stickiness? I think the people have a right to know.
Maybe add it to the main buying advice sticky?
1. You don't pay income tax or national insurance on the money you spend on your bike.
2. The bike is VAT free.
The only difficult part is that you need the cooperation of your employer, they buy the bike and rent it back to you over a year to cover most of their costs, then rely on you buying it at the end to recoup the remainder.
Most big cycle shops support it, e.g. http://www.evanscycles.com/ride2work.jsp
There's even a company that will handle it for your LBS: http://www.cyclescheme.co.uk/
Details here: http://www.dft.gov.uk/pgr/sustainable/c ... mentat5732
Any chance this gets stickiness? I think the people have a right to know.
Maybe add it to the main buying advice sticky?
Fat bloke, on a nice-ish bike.
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Comments
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Its a cycle to work scheme so you are supposed to use the bike mainly for getting to work although i'm sure quite a few people don't do that!
Do a search aroiund the forum and i think you'll find that the scheme is fairly well know.0
